FAS/Seoul Monitoring of Media Reporting on Agricultural Issues 

Today's Date: Friday,  March 24,  2023

For Coverage:  March 1 ~ 23, 2023

SPC Paris Baguette Opened Its First Branch in Canada

https://www.mk.co.kr/news/business/10693704
Summary: SPC’s Bakery brand ‘Paris Baguette’ officially opened its first branch in Canada, announcing its aim to capture the Canadian market.  The first Canadian branch is located on the first floor of ‘Young Shopping Centre’ on Young Street with 214m square size.  SPC is planning to open 7 more Canadian branches this year and, as a long-term vision, they are aiming to open more than 1,000 branches by 2030.

Korea Maintained Qualification to Export Food Products with Milk / Egg / Honey Contents
http://www.foodnews.co.kr/news/articleView.html?idxno=101564
Summary: Korea maintained its qualification to export food related products with milk, egg, honey contents to the European Union (EU).  Korea successfully responded to E.U.’s updated regulation on complex food and managed to maintain qualification.  Korea is expecting to export more complex food such as bread, snacks, beverages and kimchi etc.

California Wine ALIVE Tasting 2023, Held Successfully
https://www.mk.co.kr/news/business/10692884
Summary: California Wine Association reported California Wine ALIVE Tasting event, which was held on March 3, ended successfully.  36 Korean-based wine-importing companies participated and introduced about 370 variety of U.S. wines and more than 600 wine related business members visited the event.  Philip Goldberg, the U.S. Ambassador to the Republic of Korea said “Growth of California wine in Korea is due to the efforts of U.S. wine producers and Korean wine related business members, and Korean consumers are well aware of U.S. wine’s high quality and price competitiveness” after the tasting event.

‘Terra’, the Korean Domestic Beer Sold a Billion Bottles Last Year
https://www.mk.co.kr/news/business/10690919
Summary: Hite Jinro reported that their beer ‘Terra’ recorded a billion bottle sales which was a highest record in history.  The sales record increased in various distribution channel.  Restaurants and bar sales increased 33% compared to the previous year and retail shop sales increased 26% annually since the release in 2019.

LOTTE Confectionary Made MOU with AIB International
http://www.foodnews.co.kr/news/articleView.html?idxno=101518
Summary: On March 20, LOTTE Confectionary signed a memorandum of understanding (MOU) with AIB International to enhance the global quality competitiveness.  AIB International is a U.S. based food hygiene inspecting organization, established in 1919, which made partnerships with about 3,000 global companies such as McDonalds and Pepsi.  Through this MOU, LOTTE Confectionary will start inspecting their Korean factories as well as foreign factories with about 150 factories in total.  The CEO of LOTTE Confectionary announced the partnership to provide safe products to consumers.
  
Liquor and Spirits Sales Outran Soju Sales
https://www.mk.co.kr/news/business/10687388
Summary: After COVID-19, the demand for whiskey soared, making liquor and spirits sales outrun soju sales in January and February 2023.  According to E-mart, whiskey, brandy, and rum sales exceeded soju sales by 3.6% in January and February of this year.  Whiskey’s share among liquor sales was more than 80%.  Whiskey’s high demand is mainly due to ‘home-drinking’ and ‘home-tending (home drinking + bartending)’ culture.

Imported Beer Price Hike, Domestic Beer Price Freezed
https://www.mk.co.kr/news/business/10686583
Summary: Due to increased import cost and shipping price, imported beer prices are rising.  According to the liquor business, Budweiser, Stella and Corona beer’s price will be increased about 9% from the end of this month.  Heineken Korea also announced 9.5% increase last month.
  
Hite Jinro ‘Terra’ Certified with ‘Non-GMO Project’
http://www.foodnews.co.kr/news/articleView.html?idxno=101460
Summary: Hite Jinro received ‘Non-GMO Certification’ by U.S. non-profit organization ‘Non-GMO Project’.  This certification insists that ‘Terra’ has no GMO ingredients and has no GMO ingredients included during the entire processing procedure.  However according to the Korea’s MFDS (Ministry of Food and Drug Safety) policy using partial labelling system, among 6 ingredients used to produce beer, only starch was certified with non-GMO label.

Plant-based Meat and Dish Cleanser Refill Selling Eco Friendly Convenient Store
https://www.mk.co.kr/news/business/10677686
Summary: Seven Eleven launched ‘Food Dream 2.0’ a new version of food platform ‘Food Dream’ with a renewal of adding health and eco-friendly products and launched ‘Food Dream ECO’ an off-line store near Sadang station.  ‘Food Dream’ contains large spaces enough for customers to enjoy their various food products.  Seven Eleven said that they are aiming to provide not only various kinds of food and meals-ready-to-eat but also healthy lifestyle for Gen M and Gen Z.  At ‘Food Dream 2.0’, they provide various eco-friendly products and services.

Consumers Grief at Hamburger Price Increase
https://www.mk.co.kr/news/business/10677459
Summary: Relatively ‘Cheap’ Hamburgers’ prices are consecutively rising making consumers’ burden deeper.  According to the industry, from March 10^th, Burger King raised their products price at average 2%.  This is the second time after the raise in last year's July.  In addition to Burger King, McDonald's, Mom’s Touch, and KFC also raised their product price at certain level.

Fullerton States Signed MOU with Pulmuone on Expanding K-Food Export
http://www.foodnews.co.kr/news/articleView.html?idxno=101366
Summary: Korean Agro-Fisheries & Food Trade Corporation signed a memorandum of understanding (MOU) with Fullerton States on K-Food Export expansion and low-carbon food diet.  Fullerton State is a residential area in California where there are many Koreans and has many Korean food corporation branches.
 
Canned Tuna without Tuna, Trending Plant-based Meat
https://www.mk.co.kr/news/business/10672115
Summary: Plant-based meat is trending as more people are turning in to ‘Flexitarian’ for better health and maintainable environment.  On March 7, Dongwon F&B launched plant-based meat brand ‘MyPlant’ and showed tuna and dumpling product.  According to Agriculture Economy Research Center in Korea, plant-based market in Korea is expected to grow with 280-billion-dollar market scale by 2026.  In 2008, the Korean Vegan population was only around 150,000 people  but in 2022, the population was reported at about 2.5 million.

 ‘Guksundang Chilsung Maksa’ Start Exporting to U.S.
http://www.foodnews.co.kr/news/articleView.html?idxno=101259
Summary: ‘Guksundang Chilsung Maksa’, a beverage made in collaboration with Chilsung Beverage Company and Guksundang, is being exported to the United States.  This beverage tastes like Makgeoli mixed with soda.  Guksundang announced that they will constantly export traditional Korean liquor with new and various flavors.