Latest news with #aT
Korea Herald
03-04-2025
- Business
- Korea Herald
aT honored for ESG management at National Brand Awards
The Korea Agro-Fisheries & Food Trade Corporation won the grand prize Wednesday in the environmental, social and governance management category of the 2025 Korea National Brand Awards for the second consecutive year. Hosted by the New York Festivals, the annual award recognizes top performers in each category based on the National Brand Competitiveness Index, which evaluates brand awareness, identity, satisfaction, loyalty and global competitiveness. The Korean food trade agency, also known as aT, first received the ESG management award in 2024, the year the category was introduced, and has retained its top position this year. Since declaring its commitment to ESG management in 2021, the agency has implemented a range of initiatives, including the launch of Korea On-line Wholesale Produce Market to digitize agricultural distribution and the creation of the Climate Change Response Department. It has also introduced support programs such as food packages for underprivileged children and smart farm training for individuals with developmental disabilities. 'It is an honor to be selected as Korea's top national brand in ESG for a second year,' said aT President Hong Moon-pyo. 'We will continue promoting ESG initiatives that contribute to a prosperous future for farmers, fishers and rural communities.'
Korea Herald
18-02-2025
- Business
- Korea Herald
Korean powdered milk exports triple in Southeast Asia over decade
Korean powdered milk products have surged in popularity across Southeast Asia, with exports nearly tripling over the past decade as demand for Korean formula remains on the rise, data showed Tuesday. According to data from the Korea Agro-Fisheries & Food Trade Corp., or aT, powdered milk exports to the 10 member nations of the Association of Southeast Asian Nations hit a record high of $30.7 million last year, up from $10.5 million in 2014. The export volume also saw a sharp rise, reaching 2,465 metric tons last year — 2.6 times higher than the 932 tons recorded a decade ago. Among ASEAN countries, Cambodia stands out as the largest export destination, with Korean formula milk powder shipments soaring to $15.6 million last year, showing a 14-fold increase over the past decade. Korean powdered formula milk held a 3.3 percent market share in Cambodia in 2019, but by 2023, it had jumped to 14.8 percent. Over 80 percent of the powdered milk products in Cambodia come from Namyang Dairy Products, one of South Korea's largest dairy companies, which not only sells its flagship powdered milk but has also launched a product tailored to the local market. Vietnam is another key market, with its infant formula market projected to grow from 1.57 trillion won in 2023 to 2.43 trillion won by 2027, according to global market research firm Euromonitor. Korean powdered milk exports to Vietnam have risen 1.6-fold over the past decade, reaching $15 million last year. Lotte Wellfood, the confectionery arm of Lotte Group, has seen strong export growth, having introduced a Vietnam-specific formula product in 2019. The product recorded an 82 percent on-year growth in the first 10 months of 2023. An industry insider noted that, amid Korea's declining birthrate and the resulting drop in domestic infant-related sales, Korean dairy manufacturers are increasingly turning to Southeast Asia, which could serve as "a future growth engine for the powdered milk industry."
Korea Herald
17-02-2025
- Business
- Korea Herald
Pungent pride? Hongeo eyes global reach
Fermented skate, Korea's pungent delicacy known as hongeo, may soon be designated as a traditional seafood product, South Korea's Ministry of Oceans and Fisheries announced Monday. According to the National Fishery Products Quality Management Service under the ministry, research has determined that fermented skate meets the criteria for designation as a traditional seafood product. Once the final review is complete, it will join the official roster. The designation would open doors for fermented skate in international markets, with government support for overseas promotion. Often cited as one of Korean most formidable culinary challenges, fermented skate puts even the most adventurous palates to the test. While its intense ammonia-like aroma can be overwhelming for many, this bold delicacy continues to reign as a cherished specialty of the southwestern region. The ministry has also commissioned research to establish standards for designating other seafood dishes, including seaweed soup, or miyeokguk, dried seaweed, pickled abalone, parboiled conch and soy sauce-marinated shrimp, as traditional seafood products. Under the Seafood Industry Promotion and Support Act, a seafood item must use domestically sourced seafood as its main ingredient and follow traditional preparation methods that preserve Korea's distinctive flavors and aromas to qualify for the designation. To date, 44 seafood items have received this recognition, including 22 varieties of salted seafood. Traditional designation grants these products priority in government purchases while unlocking support for international market expansion. Companies handling traditional seafood products also gain advantages when participating in programs led by the Korea Agro-Fisheries & Food Trade Corp., known as aT, which supports brand development, overseas marketing and export assistance. An aT official emphasized the government's commitment to promoting the export of traditional Korean seafood products certified for quality and safety. Traditional seafood status also paves the way for "K-Fish" certification by the Korea Fisheries Association. K-Fish, the Oceans Ministry's integrated export brand since 2017, aims to boost global recognition of Korean seafood and expand market reach. "We support K-Fish certification of traditional seafood to boost promotion and marketing to overseas buyers," a ministry official said.
