[Farmers Weekly] NZ meat needs to step up in South Korea
CEO and founder Youngmi Youn says New Zealand risks falling off consumers’
shopping lists unless more market investment is made collectively.
Youn, founder and CEO of Highland Group (a company which sources over 150,000t
of meat annually from 14 countries, and generating turnover approaching USD 1
billion this year), expressed concern about NZ’s lacking promotion in the meat
trading with South Korea.
the good perception (safe, clean, trusted place) of meat imported from NZ and
increasing beef consumption per capita in Korea, NZ might miss out the plenty
of opportunity for growth.
There is no NZ major supplier except ‘Silver Fern Farm’, and South Korea market is dominated by the US and Australia. Also, NZ beef to South Korea still retains a 16.6% tariff. However, Australian beef enjoys a lower 13.3% tariff.
having her sights set on becoming a major player across other food groups, Youn
has recently invested in a multimillion-dollar cold chain warehouse and
distribution centre at Busan on the coast, and is particularly keen to invest
in dairy food distribution once the centre is commissioned.
NZ’s “big three” food exporters – Zespri, Fonterra and SFF – all positioned in
Korea, Youn said she can see plenty of potential for collaborative efforts.