150 Aussie jobs created by Korean vitamin manufacturer
In January 2018, Korean nutritional supplement producer Nutribiotech chose Melbourne as the location for its newest global manufacturing facility, creating 150 new full-time jobs.
Nutribiotech makes vitamins, minerals and nutritional supplements for several major Australian brands. It also produces its own products and exports to more than 25 countries around the world.
Nutribiotech's investment demonstrates Korea's confidence in Australia as a great place to invest and do business. In particular, the company pointed to the highly skilled workforce and proven excellence in medical technologies and pharmaceuticals as key reasons for choosing Australia.
According to AusBiotech's 2017 Snapshot, Australia is among the world's top five countries for biotechnology innovation. The Australian life sciences sector employs around 232,000 people across more than 1,600 organisations.
Koreans' increasing awareness of the importance of a healthy lifestyle, along with the tariff elimination on Australian-made pharmaceuticals under KAFTA, has directly benefitted Australian exporters of vitamin supplements such as Blackmores and Cenovis.
The Korean Government has set its sights on being a world leader in biotechnology and Australia is well positioned to attract Korean investment.
Dongil Grain transforms Aussie corn into Doritos
Growers from the Ord region of Western Australia have scaled up their collective production capacity of premium corn for the world's largest importer of Australian corn, Korea's Dongil Grain.
In 2017, more than 11,000 tonnes of Ord corn was shipped from Wyndham to Seoul as part of a new deal with Dongil Grain. The food manufacturer processes Australian maize at its Korean factory to supply local consumers with a wide variety of corn snack foods, such as Doritos corn chips.
Building Links - WestConnex - Samsung C&T and Lendlease
Lendlease Samsung Bouygues Joint Venture (LSBJV) was selected by the NSW Government to construct the mainline tunnel of the M4-M5 WestConnex Tunnel Link. LSBJV is comprised of Samsung Construction & Trading Corporation (Samsung C&T), Lendlease Engineering and Bouygues Construction.
CEO of Samsung C&T Corporation Youngho Lee said: "It is a privilege to continue to work with the NSW Government to deliver this crucial project, increasing local training opportunities and employment whilst addressing Sydney's future transport needs."
The mainline tunnel will include up to 7.5 kilometres of twin tunnels, associated ramps and supporting operational facilities.
Safe, clean and green - Koreans savour premium Australian flavours
Food and eating out are a big part of Korean life. With busy lifestyles and around 50 per cent of households composed of singles and couples, there is a bias towards 'convenience'. But this does not mean just fast food: Koreans want healthy, safe, and tasty food. While Hansik (Korean food) is the dominant cuisine, changes in dietary culture present expanding opportunities for quality Australian agriculture and food and beverage.
Australian produce is recognised in the Korean market as 'safe, clean and green'. Australia is a trusted supplier, with a strong supply history to the wholesale sector (food processing and service) and a growing retail presence. There are opportunities for Australia to increase and diversify further the range of agricultural and consumable products exported to Korea, and also opportunities in agri-services, agtech and investment, especially under KAFTA.
Due to favourable KAFTA outcomes, consumer demand and improved technical market access, the breadth of Australian vegetables into Korea continues to increase. A trial shipment of broccoli arrived in July 2018 and the first shipment of Australian fresh potatoes was imported earlier in the year. Australia is also now able to export a range of fresh herbs to Korea.
Korean consumers can more readily access sun-ripened Australian fruit with the immediate elimination of tariffs on cherries and halving of tariffs on mangos (from 30 to 15 per cent) which will fall to zero by 1 January 2023. At the end of 2017, the Australian mango industry was further assisted with Korea removing the requirement for pre-export inspection of all consignments.
Buy from me! - Attracting Market attention
Well-coordinated market development activities are critical for gaining the attention of Korean consumers and increasing market share. The Australian Embassy in Seoul has been working closely with the Australian food and beverage industry to capitalise on the improved market access to Korea achieved under KAFTA.
One example of outreach to consumers promoting Australia's high quality, safe and clean agricultural products has been the efforts of Meat and Livestock Australia (MLA), with support from the Australian Embassy and the Australian beef exporters, to promote the 'True Aussie' beef brand, which is highly trusted in the Korean market. Activities have included retailers using the 'True Aussie' mark on packaging, an in-store promotion campaign with Homeplus (one of Korea's largest supermarket chains), bus stop advertising, media and social media outreach and catalogue advertisements.
Annual Australian Wine Grand Tasting
Austrade and Wine Australia delivered the fourth annual Australian Wine Grand Tasting 2018 in Seoul, which showcased more than 240 Australian wines from 40 wineries. The event attracted more than 380 sommeliers, importers and opinion leaders, and promoted the quality, diversity and personalities of Australian wine. This was the first time that the event also paired Australian wine with specially prepared gourmet Australian food.
The import duty on Australian grapes was eliminated this year under KAFTA. To maximise the benefits, Austrade led a project to rebrand Australian green table grapes in the Korean market as 'TAMS GOLD' – a combination of the Korean word "Tams-rubda", meaning attractive, ripe and delectable, and the English word "Gold". This market-specific branding promotes the product in a way that appeals to local consumers. Australian Ambassador to Korea, the Austrade Trade Commissioner and the Embassy's Agriculture Counsellor took part in the brand launch event and in-store promotions.
Australian Open in Seoul - Centre Court to be re-created in Korea
In 2019 the Australian Embassy's theme for its biennial Australia Day event, will be the 'Australian Open in Seoul,' with the atmosphere and entertainment of centre court recreated in Korea - complete with Australian hospitality, food and drink. Interested Australian exporters and Korean commercial partners may contact Sue-Lyn Norrie at the Australian Embassy on: firstname.lastname@example.org
In the know - Korean accessible directories for Australian Wine and Food and Beverage Directories
Austrade recently published a Wine Directory and an Australian Food and Beverage Directory in Korean. The directories were distributed to local hospitality, food manufacturing and retail businesses to increase awareness of the depth and breadth of Australia's high quality Food and Beverage products.