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Market Opportunity - South Korea

Watch the Canadian Trade Commissioner Service highlight agri-food market opportunities in South Korea.

Video transcript

[Upbeat electronic music begins.]

[The camera zooms in on a timelapse of Seoul. A blue bar with text appears over the screen.]

Text on screen: Canadian Agri-Food Trade Commissioners

[The image switches to a timelapse of a city street. The text changes.]

Text on screen: Market Opportunity South Korea

[Cut to Tommy Couture. Text appears on a blue bar beneath him.]

Text on screen: Tommy Couture Trade Commissioner, Agriculture and Agri-Food

Tommy Couture: Hi, I’m Tommy Couture. I’m a trade commissioner based in Seoul, South Korea.

[Cut to the sun sinking over Seoul.]

Korea is a fascinating country.

[Cut to a fast timelapse of a busy crosswalk. Text appears on screen.]

Text on screen: 50.8 Million People

There are more than 50.8 million people.

[Cut to another busy crosswalk. More text appears.]

Text on screen: 11th largest economy in the world

It is the 11th largest economy in the world, 4th in Asia.

[The image switches to the Bongeunsa Temple. New text appears.]

Text on screen: 4th in Asia

[Cut back to Tommy Couture.]

South Korea is the 6th largest importers of Canadian products.

[Cut to a shipyard. A factory worker handling fish. A factory worker filling a bottle of oil.]

[Cut to a shot of a city at night.]

Half of them are all living in the greater metropolitan city of Seoul…

[Close-up of the city, Seoul.]

[Cut to an aerial timelapse of a busy intersection.]

… and 10 million of them are living downtown.

[Cut to another rapid timelapse of foot traffic on the street.]

So it is a vibrant city…

[Cut back to Tommy Couture.]

… a lot of infrastructure, a lot of things going on…

[Cut to a pan over the city.]

You can see some homogeneity.

[Cut to meat cooking on a grill. Shrimp and seafood cooking on another grill.]

And that is reflected as well in the consumer behaviour as well.

[Cut to lobster on a grill.]

If you have a really good product and can reach those consumers, you can have a really good success in that market.

[Cut to chopsticks lifting pork from a bowl.]

[Cut back to Tommy Couture.]

Korea loves Canada brand.

[Cut to a man in a canoe on a lake near mountains.]

Canada food has a good reputation, which is safe and fresh.

[Cut to a hand pouring blueberries into a jar. Close up on the blueberries.]

[Cut back to Tommy Couture.]

South Korea is a really well-connected country.

[Cut to a timelapse of cranes loading a cargo ship. A pan over hundreds of shipping crates. Text appears.]

Text on screen: 45 free-trade agreements.

They have more than 45 free-trade agreements in the world.

[Cut to a new timelapse of a shipyard.]

It is a pretty competitive market.

[Cut back to Tommy Couture.]

They import around 60 to 70% of what they consume in the country…

[Cut to a train zipping by on a bridge. Then to a glowing map of the Asia-Pacific region.]

… so they have many different links with countries in the Asia-Pacific region…

[Cut back to Tommy Couture.]

… and for sure they have a really well-developed global value chain in the region.

[Cut to a woman touching a touch screen. A graphic of a shopping cart appears.]

Since 2010, e-commerce grew 14.4% annually.

[Cut to a woman using a tablet. Text appears.]

Text on screen: 14.4% annual growth

That growth represents 88 billion dollars in 2016.

[Cut to a woman holding her credit card and shopping on her phone. Text appears.]

Text on screen: $88 Billion in 2016

[Cut back to Tommy Couture.]

Before exporting, you have to keep in mind that you may have to adapt your product, your packaging, and make smaller portions.

[Cut to wrapped food going by on conveyor belts.]

[Cut back to Tommy Couture.]

It is really important to develop connection within the market by traveling to the market, meet people, contact them regularly, meet with suppliers, distributors, retailers, and even food services actors.

[Cut to a plane at a loading dock. A group of people toasting with beers. Three people in business attire shaking hands.]

[Cut back to Tommy Couture.]

What I like about my job is really to put people into touch.

[Cut to a timelapse of two ships being loaded at a shipyard. Cut closer on one of the ships.]

I like to get requests from Korean importers or Canadian exporters and make sure their needs are met.

[Cut back to Tommy Couture.]

And after a few weeks, you can see the result of your work, you can see that there are some new Canadian products on the shelves.

[Cut to a display of seafood. Then to boxes with a maple leaf on the shelves of a grocery store.]

[Cut back to Tommy Couture.]

For a company that expects to penetrate the market, it is really important to do your homework. There’s a lot of information available on many different websites about South Korea.

[Cut to a busy street in South Korea.]

Learn about the culture, and make sure you contact the trade commissioner services, and they will help you to go through all those first steps.

[Cut to a fast timelapse of a city street. Text appears over the video on a blue bar.]

Text on screen: Contact us today

[The text changes.]

Text on screen:

[Cut to the Canada wordmark.]

Text on screen: (c) Her Majesty the Queen in Right of Canada, represented by the Minister of Agriculture and Agri-Food (2017)

[The upbeat electronic music fades out.]

[Fade to black.]

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