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Industry

Dairy industry enters second round of \'protein war\' with higher content, derivative products

South Korea\'s dairy industry is ramping up competition in ready-to-drink protein beverages by increasing protein content and rolling out derivative products. Namyang Dairy Products launched a renewed Take Fit Monster with 45 grams of protein, while Binggrae raised The Protein to as much as 40 grams. The domestic protein market has expanded rapidly since 2018, with beverages accounting for about 60 percent. Companies are also moving into amino acid-based energy gels as competition intensifies.

Industry

Food industry enters AGM season as commercial act response and new growth drivers come into focus

South Korea\'s food industry has entered the season for annual general meetings, with governance restructuring and securing future growth drivers emerging as key themes. With the revised Commercial Act set to take effect, companies are moving to amend articles of incorporation and adjust board structures, while also putting forward agenda items including reappointment of owner executives and succession-related appointments. Firms are also accelerating diversification and overseas expansion by adding new business purposes and reorganising operations.

Industry

Lotte Wellfood, Binggrae and Orion join price cuts as moves spread to snacks, ice cream and packaged bread

South Korean makers of confectionery, ice cream and packaged bread are cutting prices on some products as part of an effort to support the government’s price-stability drive. Lotte Wellfood, Haitai Confectionery and Orion will lower prices on 10 confectionery items by an average 2.9 to 5.6 percent. Lotte Wellfood and Binggrae will cut prices on eight ice cream products, while Lotte Wellfood and Samlip will lower prices on packaged bread.