South Korea

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Country Intro

 

World’s 12th largest economy
GDP: US$1.6 trillion PPP (2013)
Per Capita GDP: US$32,900  
GDP growth rate: 3.0% (WB)
Agricultural Commodities Market: 
US$31 billion (2013)
US 5th largest agricultural 
export market
Consumer Preference: 
High value, high quality
Health benefits, convenience
Change in Consumer Group: 
Affluent, more working women
Small size family, urbanization
Well-traveled and informed young generation1

 

Our Speciality

 

Fruit Market

Fresh fruit imports - $940 mil in value in 2013
Main import fruit: Bananas, cherries, oranges, lemons, limes, grape, blueberries
70% of the agricultural products are imported
Strong concern for clean, fresh and safe products.1

International sporting events affect the chicken consumption.
During the 2010 World Cup – chicken consumption increased by 10%.
Increasing “ready to cook” and “small portion” cut chicken market due to single person household and working couples.
Broiler meat imports in 2014 – about 125,000 mt, reduced tariff to 14% under Korea US FTA
20% tariff on leg quarter will disappear by 2021. 
20% tariff on frozen breasts and wings will be lifted by 2023.2

Organic Market, Industrial Technology

 

 

Our Korea Partners

 

Misha Gerhard & Lewis is providing solutions in Korea by focusing on our Agricultural Commodities practice area. We provide poultry, fruit, and shrimp to this stable market. For the US Poultry suppliers, South Korea is a competitive market, so we are engaged in opening new doors for supply to flow and are building strategic partnerships in the value chain of agricultural commodities that mitigate the competitive forces and provide more choice for the Korean consumers. Demand for our products has increased as the number of single member households has grown as compared to 3 to 4 member family households.

Our partners are seasoned and well established in a diverse array of supply chain components in South Korea’s food industry. We provide a truly vertically integrated capability and strategic advice to ensure that competitive products are able to succeed with the right strategic branding approach for suppliers who aspire to grow or who seek to enter this market for the first time.

 

GET IN TOUCH

  • 1875 I Street NW, International Square, 
       Washington, District Of Columbia, 20006
  • Phone: +1 (888) 317-3839
  • Email: info@mglllc.com

About

Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.

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