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April 5 - 18, 2024
2024.04.22
FAS/Seoul Monitoring of Media Reporting on Agricultural Issues
Today's Date: Friday, April 19, 2024
For Coverage: April 5 ~ 18, 2024
Japan¡¯s Newest Chicken
Chain
https://www.foodnews.co.kr/news/articleView.html?idxno=107625
Summary: After a
successful three-week pop-up store last October, Mom¡¯s Touch entered the
Japanese fast-food restaurant market with its first direct store overseas in
Shibuya, Tokyo. This venue was originally the former site of a McDonald's
Japan for 39 years located in one of the busiest hubs near Shibuya
Station. Kim Dong-won, CEO of Mom's Touch, expressed plans to transform
Shibuya Mom's Touch into a key destination for K-burgers, aiming to establish a
foothold in the global market. Shibuya Mom's Touch showcases popular menu
items tailored to Japanese tastes while maintaining Mom's Touch's handmade
cooking approaches. Mom¡¯s Touch also plans to seek a local partner for
franchise operations in Japan to expedite market penetration alongside the store's
launch.
Prices Surge After
Election
https://koreajoongangdaily.joins.com/news/2024-04-16/business/industry/Fried-chicken-and-burgers-become-more-expensive-postelection/2026549
Summary: Following
the general election, the food, dining, and essential goods manufacturing
sectors, once cautious of government oversight, are now initiating price
hikes. Fried chicken and burger sectors have already implemented price
hikes, with Goobne and Popeyes increasing prices by significant margins.
Differential pricing policies, such as higher prices for delivery orders, are
also being introduced. Analysts predict that
this trend will continue across other food and retail establishments likely to
adjust prices due to rising costs.
Craft Beer and Korean Food
https://foodicon.co.kr/news/articleView.html?idxno=25028
Summary: A special dinner event was held in Seoul, blending American
craft beer with Korean cuisine, hosted by the U.S. Embassy¡¯s Agricultural Trade
Office (ATO), featuring Executive Chef Adam and Soojung Kim of the Beer
Association (BA). This event aimed to showcase the unique pairing of
American craft beer and food. Lisa Allen, Director of the ATO,
highlighted the rarity of such pairings, emphasizing the opportunity to explore
the quality and variety of U.S. craft beers alongside specific dishes. Steve
Parr, international relations director at BA, underscored the association's
commitment to promoting craft beer globally, with South Korea emerging as a key
importer. Chef Adam and Chef Kim Su-jung curated a menu combining
familiar Korean dishes like fried chicken and galbi with the diverse flavors of
craft beer, offering attendees a novel culinary experience.
Australia¡¯s Own Kimchi Plant
https://www.foodnews.co.kr/news/articleView.html?idxno=107600
Summary:
CJ CheilJedang started local production of kimchi in Australia in response to
the increased demand for freshly pickled kimchi by utilizing local ingredients.
The
company has reformulated 10 existing kimchi products for export while enhancing
shelf life and texture using advanced fermentation technology. Not
only have they promoted Korean culture within Australia, but they have also
expanded their production capabilities in North America by acquiring a local
kimchi manufacturer. With exports to over 50
countries, including the U.S., Japan, Vietnam, and
Australia, CJ CheilJedang¡¯s ¡®Bibigo kimchi¡¯ has experienced a 20 percent
increase in global sales last year, mainly attributed to patented
lactobacillus, high-quality ingredients and localized product lines tailored to
each market's demands.
Make Way for AI Food
https://www.chosun.com/english/industry-en/2024/04/05/VQG6IKWAQ5GYBDNWJV5JJRYX5A/
Summary: Hyundai
Green Food in collaboration with Ulsan Hyundai Mobis Phoebus introduced the
GREATING Athlete program, which utilizes AI technology to create menus
specifically designed for sports players. These tailored menus are
based on player body composition, dietary habits, and allergy considerations. For
instance, if a player tends to be more power-forward, then meals containing
double the average content of protein are recommended. Although
the costs endured were 20% higher than normal, Hyundai Green Food remains
optimistic about the demand for personalized dietary plans. The
South Korean food service industry overall has seen increased usage of
technological innovations like AI to optimize menus and ingredient management,
with companies like Samsung Welstory and CJ Freshway incorporating robotics to
streamline operations and alleviate labor shortages.
Increased Foreign Worker Employment
https://www.koreatimes.co.kr/www/tech/2024/04/129_372167.html
Summary: The Ministry of Agriculture, Food, and Rural Affairs is
contemplating expanding the eligibility for non-professional working visas
(E-9) to foreign nationals across various cuisines, not limited to Korean
restaurants, due to emerging labor shortages within the industry. Last
November, the ministry permitted migrant workers to work in Korean restaurants,
but operators of non-Korean eateries have also advocated for the same
authorization. Initially, the ministry had limited the scope to Korean
food restaurants to gradually implement the new labor law due to the
significant portion of Korean restaurants. However, the ministry is now
planning to expand its current foreign applications to other restaurant
types. The ministry has also initiated a research project to evaluate
employment opportunities for E-9 visa holders within the hospitality sector,
aiming to address labor shortages and assess restaurant operators' needs.
Food & Beverage
Profits Everywhere!
https://www.foodnews.co.kr/news/articleView.html?idxno=107503
Summary: According
to records released by the Korea Exchange, the total sales, operating profit,
and net profit of 35 companies listed on the stock market saw an increase from
the previous year. While overall sales and operating profit
declined by 2.1% and 45.0%, respectively, net profit surged by 22.2%. Notably,
the food and beverage sector saw a rise in sales (3.2%+) and operating profits
(8.1%+) with a total net profit of 1.6959 trillion KRW (31.0%+). Out
of these companies, CJ CheilJedang, Lotte Chilsung Beverage, Orion, Ottogi and
several others emerged with the highest operating and net profit figures.
Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921
Email: atoseoul@state.gov