Market Information   >   Food News Clipping

Food News Clipping

March 05, 2013

2013.03.05

FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date:   Tuesday, March  05, 2013

For Coverage:  March 01 - 05, 2013

 

 

1. MARKETING ISSUES

 

Farniente, A Premium Napa Wine was Served in Inauguration Party of President Park [Korean, OSY]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=100&oid=001&aid=0006124076

Summary: It is reported that Farniente Cabernet Sauvignon 2009, a premium Napa wine was served in the inauguration party of the new Korean president, Keun Hye Park on February 25.  President Park reportedly visited the winery in 2005 and developed liking for the wine.
 
 
 

Investigation Found Illegal labor Use by E Mart ¡¦ Ministry of Labor Ordered E Mart to Direct Hire 1,978 Illegal Part-time Employees [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013022845831

Summary: Ministry of Labor¡¯s inspection has reportedly found that E Mart, the leading hypermarket store chain in Korea, has been illegally using 1,978 part-timers for jobs that only full-timers were allowed to do.  The Ministry ordered to transfer all the illegal part-timers to full-time employees.  Industry sources have commented that the transfer would increase the labor cost significantly.

 

Food Processors and Retailers to Lower Prices Under Gov¡¯t Pressure [Korean, OSY]

http://news.donga.com/3/all/20130304/53459189/1

Summary: CJ Cheiljedang announced that it would lower the price of its table sugar by 4 to 6 percent from March 5.  Other sugar processors are reportedly planning for a price reduction soon.  Major hypermarket retailers have started deep price discount events since March 1.  CU, the leading convenience store chain, has launched a price discount promotion on instant noodles since March 1.  Marketers agree that these price reduction campaigns are to do with the pressure from the new president, Park Keun Hye.  Under the order of the new government, Fair Trade Committee has started an investigation on local retailers and processors for unfair price fixing practices.

 

Nongshim to Expand Its Production Plant in Los Angeles ¡¦ ¡°Seek to Become the Second Largest Supplier of Instant Noodle in the U.S. in 3 Years¡± [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013030421081

Summary: Nongshim, the leading instant noodle company in Korea announced on March 4 that it will expand the production capacity of its plant in Los Angeles, CA from annual 450 million packages to 550 million packages within this month.  The expansion project has started in September last year.  Nongshim added that the expansion will allow Nongshim to achieve a total of $200 million annual sales in the U.S. market, which will make Nongshim the second largest instant noodle company in the U.S.  Currently, Japanese companies are the top three suppliers of instant noodle in the U.S.

 

Hite-Jinro to Reduce Alcohol Content of Its Flagship Beer to Target More Consumers [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013030420721

Summary: Hite-Jinro announced on March 4 that alcohol content of its flagship beer, ¡®Dry-Finish d¡¯ will be lowered from 5 percent to 4.8 percent.  Hite-Jinro explained that lower alcohol content will allow the beer to target wider consumer groups.

 

 

The information in this report was compiled by the Agricultural Trade Office (ATO) at the U.S. Embassy in Seoul, South Korea. The press summaries contained herein do NOT reflect USDA, the U.S. Embassy, or other U.S. government agency official policy or view point. U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul's Exporter Guide and other reports available at www.fas.usda.gov by clicking on "attaché report".

View List >

Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov