FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: Friday, May 14, 2021

For Coverage: May 10 ~  14, 2021

 

Korean Government to Import 40 Million Eggs in May

https://www.hankyung.com/economy/article/202105142748i 
Summary: The Korean Government announced on May 14 that it will import an additional 40 million eggs in May.  The government imported 104 million eggs during January through April but decided to import additional eggs in May to stabilize the price of eggs in the market. 
 

EMART to Offer More Varieties of Fruits and Vegetables to Differentiate from On-line Grocers  

https://www.donga.com/news/Economy/article/all/20210512/106893371/1 

Summary: EMART, the leading hypermarket grocery store chain in South Korea, is making efforts to offer more varieties of fresh fruits and vegetables.  For example, EMART staged a 'Tomato Museum' section in the store in April that offered a dozen different varieties of tomatoes.  The section generated 31 percent sales growth compared to the same month last year.  EMART offered more varieties of strawberries, oranges, chile peppers, and mushrooms, among other fruits and vegetables. 

 

Coupang Sales Up 74% to $4.2 Billion in the First Quarter  

https://www.hankyung.com/economy/article/202105137724Y 

Summary: Coupang, a leading on-line shopping platform in South Korea, reported that its sales during the first quarter amounted to a record high, $4.2 billion, up 74 percent from the same quarter last year.  The number of individual consumers who shopped in Coupang increased 21 percent to 1.6 million people.  Customers on average bought $262 of products in the quarter, up 44 percent.  

 

Frozen Pizza Market Expands ... Competition Rises  

https://www.hankyung.com/economy/article/202105137657Y 

Summary: Frozen pizza market continues to expand in South Korea as consumers generate increased demand for quick, easy home meal solutions.  Frozen pizza sales in Korea grew significantly from $67 million in 2019 to $85 million in 2020 according to a Nielsen Korea report.  The market leader, Ottogi, launched a new premium line this year in an effort to protect its market share from aggressive competition from CJ Cheiljedang and Pulmuwon. 

 

"South Korean Economy is on a Recovery for the First Time since the Pandemic", KDI  

https://www.donga.com/news/article/all/20210510/106853736/1 

Summary: The Korea Development Institute (KDI), the leading think tank under the South Korean government, reported on May 10 that the South Korean economy was on a gradual recovery for the first time since the COVID-19 pandemic.  KDI explained that the three pillars of the Korean economy, industrial production, exports, and consumer consumption, were all showing solid growth patterns.  For example, industrial production and retail sales in Korea increased 5.8 percent and 10.9 percent respectively in March this year compared to the same month last year. 

 

Vegan Food Orders Up 22% in the First Quarter, GMARKET  

https://www.hankyung.com/economy/article/2021050928701 

Summary: GMARKET, a leading on-line shopping platform in South Korea, reported on May 10 that the number of consumer orders for vegan food products increased 22 percent during the first quarter this year compared to the same period last year.  The sales growth was led by vegan bread, dumpling, noodles, and sauces.  GMARKET said that regular consumers also expanded vegan food purchases during the quarter as they paid attention to ESG (Environment, Social, and Governance) initiatives emerging in the market. 

 

McDonald Korea Hosts ‘Food Safety Week’  

http://www.foodnews.co.kr/news/articleView.html?idxno=92264 

Summary: From May 10 to 14, McDonald Korea is hosting virtual meetings to promote food safety awareness.  Managers and employees at McDonalds from more than 400 stores will participate and discuss on hygiene, food safety of suppliers, facility management and cleaning issues.