FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: Friday, July 23, 2021

For Coverage: July  19 ~  23, 2021

EMART Stages 'Olympic Foods' Promotion Targeting Consumers Who will Watch Tokyo Olympic Games at Home

https://www.donga.com/news/article/all/20210721/108081513/1

Summary: EMART launched an in-store promotion on July 21 under the theme of 'foods for the Olympic games'.  The promotion will last until July 28 and offer various snacks, prepared foods and beverages targeting consumers who will watch the Tokyo Olympic games on TV at home.  The Tokyo Olympic games open on July 23.

BHC to Acquire Outback Steakhouse Korea

https://www.donga.com/news/Economy/article/all/20210720/108061294/1

Summary: BHC, a restaurant franchise company in South Korea, announced on July 20 that it would acquire a 100 percent shares in Outback Steakhouse Korea from the current owner, Sky Lake Equity Partners.  BHC is the second largest player in the local fried chicken restaurant industry and has been expanding into other segments in the industry recently.  BHC reportedly will pay 200 billion won ($180 million) for the acquisition.  Outback Steakhouse Korea generated 300 billion won in cash-register sales in 2020, up 17 percent from the previous year based on aggressive restructuring of stores and recipes, an outstanding outcome considering the COVID-19 pandemic.

Asiana Air to Ship 5,000 MT of Washington Cherries into Korea by August

https://www.hankyung.com/economy/article/202107216477Y

Summary: Asiana Air reported on July 20 that it would make an extra effort during the second half of this year to expand its air cargo business for fresh agricultural products.  Key products that Asiana Air targets to service include Washington cherries and U.S. table eggs.  Asiana Air said that it already shipped 1,778 metric tons of California cherries and 7,000 metric tons of fresh U.S. eggs into Korea during the first half of this year.  The volume of Washington cherries that Asiana plans to ship to Korea by August totals 5,000 metric tons.

Daesang Sells U.S Nut Brand “Planters” Exclusively in Korea

http://www.foodnews.co.kr/news/articleView.html?idxno=93174

Summary: Daesang has signed an exclusive sales and distribution contract for the U.S nut brand “Planters” in Korea.  Planters is the world’s second oldest Nut brand with more than a 100 years of history.  Daesang will introduce six representative types of peanuts to the market, brining opportunities to provide new flavors and trends to domestic peanut markets and consumers.

The Number of Egg Laying Chickens Has Dropped by 9.05 Million…the Price of Eggs is Going Up

https://www.edaily.co.kr/news/read?newsId=02879846629116816&mediaCodeNo=257&OutLnkChk=Y

Summary: The number of egg laying chickens has plummeted due to avian influenza at the end of last year.  Unlike the growing number of hogs and cattle, the number of chickens decreased by 12.1% compared to last year.  The number of poultry for meat also decreased by 1%.  The government is taking measures to address the rising prices.

McDonald's ‘Taste of Korea’ Project: Expanding Menus Using Domestic Agricultural Products

https://www.thinkfood.co.kr/news/articleView.html?idxno=91843

Summary: McDonald's Korea has continuously strengthened its relationship with local farmers and domestic suppliers.  Prior to the project, McDonald's purchased NaJu pear, a special product of Jeollanam-do, and released the ‘NaJu pear chiller’.  The Korean flavor project will contribute to revitalizing the local economy by launching a new menu using high-quality domestic food ingredients as an extension of McDonald's social responsibility.  This will also create opportunities to export local menus that have been released in Korea to foreign countries.  Under the agreement, McDonald's plans to strengthen cooperation with local governments in South Jeolla Province and lay the foundation for expanding local sourcing.

Dr. Lean to Expand Hemp Seed Oil Offers in TV Home Shopping and On-line Shops

https://www.hankyung.com/economy/article/202107166608a

Summary: Dr. Lean, a health nutritional supplement supplier in South Korea, reported that it had sold over 130,000 packs of hemp seed oil since launching the product in local TV home shopping channels and on-line retail stores in May 2021.  Dr. Lean said that its hemp seed oil is cold pressed in Canada for safety and freshness.