FAS/Seoul Monitoring of Media Reporting on Agricultural Issues 

Today's Date: Friday,  July 14,  2023

For Coverage:  July 8 ~ 14, 2023

Whiskey and Food Pairing Gains Popularity

http://biz.heraldcorp.com/view.php?ud=20230713000414

 Summary:  Along with the whiskey boom continued since the pandemic, the whiskey & food pairing concept is gradually gaining popularity in Korea. According to industry insiders, an increasing number of consumers order whiskey with foods at eateries. Whiskey used to be considered as alcoholic drinks people enjoy at a bar. It, however, is observed that whiskey is now found at ordinary restaurants as well, combined with the popularity of highball. Though whiskey is not as commonly consumed as soju or beer in Korea yet, it appears whiskey companies closely follow this shifting trend and try to expand their sales channel into restaurants such as a Korean barbeque place.

Record-high Stockpiling of Fishery Products by the Government & Increased Onion TRQ to Stabilize Consumer Price 

http://www.foodnews.co.kr/news/articleView.html?idxno=103386

Summary: To stabilize consumer prices, the ROKG will expand stockpiling of seafood products and increase the volume of onion TRQ. The government plans to continue offering discounts on some high-priced items to stabilize supply & demand and the price of fish in the market. It also plans to increase the government's stockpiling target for fishery products to 76,000 tons, the highest level ever, for supply & demand control, while reviewing measures such as expanding financial support for private purchases. As a preemptive action to prevent a price surge like last year, the government decided to increase the amount of TRQ for onions by 90,000 metric tons and supply them to the market at the end of this month.

Nongshim Aims to "Reach $1.5 Billion in Annual Sales and to Become No. 1 in the USA Ramen Market by 2030" 

http://www.foodnews.co.kr/news/articleView.html?idxno=103471

Summary: Nongshim Chairman Shin Dong Won shared his goal of achieving $1.5 billion in annual sales by 2030, three times the current level, and becoming the top ramen supplier of the United States, through an e-mail sent to executives and employees of the company on his second anniversary of inauguration. Nongshim's ramen sales posted in North America was $490 million last year.  According to Euromonitor data, Nongshim's share in the U.S. ramen market was 25.2% in 2021, following Japan's Toyo Suisan with Maruchan brand (47.7%).

Korean Food, Beverage Companies Seek Aspartame Alternatives After WHO Decision

https://pulsenews.co.kr/view.php?sc=30800018&year=2023&no=536110

Summary:  After the World Health Organization’s (WHO) designation of aspartame as “possibly carcinogenic to humans”, Korean food and beverage companies are quickly looking for replacements.  In Korea, aspartame is used in many products including diet sodas, sugar-free gum, confectionaries, makgeolli and more.  Companies searching for alternatives include Orion Corp., Crown Confectionery Co., Lotte Chilsung Beverage Co, Emart Inc, and more.