1. MARKETING ISSUES

Take-out Meal Market Shows Strong Growth [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013061665801

Summary: According to the convenience store industry, sales of take-out meals in major convenience store chains, CU, Seven Eleven and GS25, recorded 44 percent to 111 percent annual growth over the last four years.  Market analysts estimate that total sales of take-out meal market in Korea amounted to 2 trillion won in 2012.  As a result, many companies have either expanded the existing business or newly entered into the business recently.  For example, Harim, the leading player in the fried chicken restaurant chain has opened its first take-out meal restaurant in Seoul under a joint partnership with Yunotani Japan earlier in May this year.   Hosimoto Japan, the largest take-out meal restaurant chain in Japan entered Korea in July last year with a plan to open 300 stores in Korea in the next 3 years.

“Home Plus Will Not Be Offered for Sale”, Tesco Chairman [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013061664911

Summary: Phillip Clark, CEO of Tesco U.K. said during his visit to Seoul on June 16 that Tesco will never sell off Home Plus.  Tesco owns Home Plus, the second largest hypermarket grocery store chain in Korea.  There has been a rumor in the market that Tesco would offer Home Plus for sales at around 7 trillion won.

COO Labeling in Restaurants Expanded to 16 Ingredients [Korean, OSY]

http://www.foodnews.co.kr/news/articleView.html?idxno=45470

Summary: Korean Ministry of Agriculture, Forestry and Rural Affairs (MAFRA) announced that revised country of origin labeling regulation will enter into force on June 28.  The revised regulation requires restaurants to label the country of origin of four new ingredients (lamb, Pollack, mackerel, hair tail) used in the menu in addition to the existing twelve ingredients (beef, pork, chicken, duck, rice, Korean cabbage Kimchi, halibut, Wooreok fish, octopus, snapper, loach, eel). 

Fresh Squeeze Fruit Juice Shows Strong Sales Growth [Korean, OSY]

http://news.donga.com/3/all/20130618/55943523/1

Summary: According to recent sales report by a leading hypermarket grocery store chain, sales of fresh squeeze fruit juice showed 118 percent growth during the first quarter this year compared to the same period last year.  During the period, overall fruit juice segment sales declined 17 percent.  It is reported that consumers in general are switching to premium quality juice products for safety concerns.

Int’l Fish Price Hits the Record High … Chinese Demand is the Reason [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013061962031

Summary: FAO reported on May 18 that the international fish price index marked a record high in May 2013, up 15 percent from a year ago.  FAO commented that strong demand from China is driving up the price of fishery products around the world.