FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: Friday, July 16, 2021

For Coverage: July  13 ~  16, 2021

OGI Offers Premium Hemp Seed Oil from New Zealand

https://www.hankyung.com/economy/article/202107153618a

Summary: OGI, a health nutritional supplement supplier in South Korea, has recently launched premium quality hemp seed oil imported from New Zealand.  OGI says that the oil is processed by cold press method to better preserve key ingredients and packaged in capsules for easy intake.  OGI added that hemp seed is a source of healthy nutrition, including essential amino acids, omega 3 and 6 fatty acids, and vitamins.  The amount of protein contained in hemp seed is 1.8 times higher than oats and 3.9 times higher than tofu.

MAFRA Picks Buyeo County for 'Organic Agriculture Promotion Area' ... $16 Million of Funds until 2024

https://www.hankyung.com/economy/article/202107152860Y

Summary: Korea Ministry of Agriculture, Food and Rural Affairs (MAFRA) announced on July 15 that it picked Buyeo country, Choongchungnam province as the recepient of its 'Organic Agriculture Promotion Area' program this year.  The program provides $16 million of MAFRA funds for 4 years under the goal of promoting local organic agriculture.  The program started in 2015 and Buyeo was the fifth region in the country picked so far.  Buyeo county will carry out various activities under the program to develop local organic farming and marketing, including consumer education and experience activities.

NH Launches Locally Grown Cantaloupes for the First Time ... "Blood Vessel Cleaner"

https://www.donga.com/news/Economy/article/all/20210714/107940621/1

Summary: Korea National Federation of Agricultural Cooperatives (NH) staged an in-store promotion on locally grown cantaloupes in Hanaro Mart, Gangnam Seoul, July 13.  NH said that it was the first time that locally grown cantaloupes were offered to consumers in Korea.  NH added that cantaloupes are known as "blood vessel cleaner" due to healthy ingredients they contain.

Korean Food Companies Expand Meat Alternative Businesses

https://www.hankyung.com/economy/article/202107148469Y

Summary: Korean consumers are showing increased interest in meat alternatives as they recognize meat alternatives as healthier and environment-friendly choices.  Accordingly, many Korean food companies are making effort to offer meat alternatives.  Fresigy, the leading meal kit processor, recently established a partnership with Australian meat alternative processor v2food, and plans to launch new meal kits containing meat alternatives this year.  Shinsegae Food, a leading food service processor, has increased production of its flagship meat alternative product, 'No-Chicken Nuggets', this year due to increased demand.  Lotteria, Pulmoonwon, and Nongshim are also currently expanding their meat alternative businesses.

Level 4 Social Distancing Measures Hit Local Restaurant Industry Hard

https://www.hankyung.com/economy/article/202107136785Y

Summary: The Korean government implemented 'Level 4' social distancing measures in the Seoul metropolitan area on July 12 as the number of new COVID-19 infections stayed above 1,000 per day during the previous week.  Under 'Level 4' local restaurants are not allowed to have consumers in a group of three persons or more, and restaurants are required to close by 10 p.m.  The Korean Association of Restaurant Industry reported on July 13 that most local restaurants in the Seoul metropolitan area lost consumer traffic in the evening as a result.  On the other hand, consumers have opted for on-line restaurant meal delivery services.  Barogo, a leading restaurant meal delivery service, reported that its deliver orders increased 22 percent on July 12 compared to the previous week.

Busan to Host 'the World Expo 2030'

https://www.hankyung.com/economy/article/202107136539Y

Summary: The Busan city government together with the Korea Ministry of Trade, Industry and Energy (MOTIE) launched 'Preparation Committee for the World Expo 2030' on July 13.  The committee, joined by various government and business organizations, will develop strategies and implementing programs under the goal of winning the competition to host the World Expo 2030 in Busan.

MAFRA Secures 265 TEU Shipping Space in HMM Vessels to Bring Korean Agricultural Exports to the U.S.

https://www.hankyung.com/economy/article/202107136485Y
Summary: The Korea Ministry of Agriculture, Food, and Rural Affairs (MAFRA) reported on July 13 that it reached an agreement with HMM, the leading Korean ocean container freighter, to provide 265 TEU of shipping space in HMM vessels each month that will be dedicated to Korean agricultural products exported to foreign markets.  MAFRA said that the shipping space will first service export to the United States from July 17.  Korean exporters can apply for the shipping space via Korea Agro, Fishery and Food Marketing Corporation (aT).