Stores, restaurants earn hefty profits on hanwoo 2012/01/21, Source, Beef lovers can't understand why the prices in restaurants and supermarkets remain high despite plummeting cattle prices at livestock farms.
The Fair Trade Commission and the Consumers Union of Korea yesterday revealed who the culprits are: department stores, including Lotte, and other retail giants, including Homeplus.
According to a report released jointly by the country's watchdog and the nonprofit consumer group, major department stores, large-scale supermarkets and other outlets that are mostly run by leading conglomerates took profit margins of 38.5 percent on their sales of hanwoo, or Korean beef,...More
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