Office of Commercial Affairs,
Royal Thai Embassy in Korea
1. Subject: QR code helps beauty, fashion marketing
Date: November 16, 2010
Source: Hankyung Newspaper
If you're wondering about the small black barcode popping up on advertising posters, then try taking a photo of it with your smartphone. You will immediately be linked to the web, where you can watch commercials and videos, look at photos and receive information on the product.
This barcode is what is known as a Quick Response or QR code, which originated in Japan in the mid-1990s. Consisting of black stripes arranged in a white square, the QR code contains encoded text, a URL and other data.
The recent surge in smartphone users in Korea is pushing QR codes to the forefront of marketing campaigns, especially in the retail, fashion and beauty industry.
Any smartphone user can download a QR code scanner application and you can start taking snapshots of QR codes on billboards, print ads and even product packaging.
Cosmetics giant AmorePacific was the first in the Korean beauty and cosmetics industry to adopt a QR code for its Laneige ad campaign last March. In August, another AmorePacific brand Innisfree introduced the QR code for the ad campaign for its new product ``Jeju Volcanic Pore Clay Mask.?? What made Innisfree's QR code unique was its green color which matched the cosmetic brand's signature green hue.
Through the Innisfree QR code, smartphone users were able to find the distinctive properties of the volcanic Jeju clay, reviews from beauty experts and an interview with Innisfree model and Girls? Generation member Yoona. Bargain beauty brand The Etude House also started issuing a QR code for its new product Dr. Lash ampoules at its store entrance.
Retailer Hyundai Department Store has its own mobile website, where customers can download a QR code to find more details, read reviews and most importantly, discount coupons. When American sneaker company Skechers launched its new Shape-Up fitness sneakers in Korea last September, it included QR codes in the ads.
They provided links to more detailed information about the function, design and benefits of the Shape-Up shoes. Users can also access the firm's commercial, as well as behind-the-scenes footage and a blooper reel. As the fashion and beauty industry is very sensitive to trends, QR codes can quickly help companies disseminate information on products to the public.
"QR codes are useful for the fashion and beauty industry because it functions as a form of information exchange. Ads are used more actively by users both online and offline. Because of this more companies will be using QR codes with different styles in the future," an official from Skechers said. Apparel and accessories brand Beanpole recently held an event for smartphone users to scan a red QR code, shaped like its Alyssa bag, and punch in a lucky number for a chance to win prizes. However, it seems not many people know exactly what the black box on posters and billboards is for.
Lee Hye-jin, a 28-year-old office worker who uses an iPhone, admitted that she doesn't pay much attention to the ads with the QR codes. "I never knew what it was for.
If it's just for marketing, I'm not interested in checking it out. But maybe if they offer discounts with those codes, I'll try them," she said.
Despite this, more people are expected to switch to smartphones in the future, which will help increase the popularity of QR codes.
Even non-fashion companies are also turning to QR codes. Popular chain Mr. Pizza has just introduced a colorful QR code to coincide with promotions for its new healthy pizza "Green Scandal." A recent ad campaign for Caffe Latte's new Americano Dutch drink showed K-pop boy band 2AM with the tagline "find your black" above a barcode box. It links to 2AM?s commercial, behind-the-scenes footage and photos of the pop idols. But even in the U.S., QR codes are not yet widely as used. Last July, Calvin Klein Jeans billboards in Los Angeles and New York featured only a bright red QR code and the phrase, "Get it uncensored." It linked users to an uncensored, racy commercial featuring supermodel Lara Stone. The campaign not only helped generate publicity about Calvin Klein Jeans? fall 2010 collection, but also more awareness about QR codes. As of now, it remains to be seen whether QR codes are the future of marketing or just another passing fad.
2. Subject: S. Korea’s Eximbank to Extend Help to Green Industry
Date: November 15, 2010
Source: Mail Economic Newspaper
The Export-Import Bank of Korea (Korea Eximbank) will launch a program to extend $200 billion in efforts to underpin South Korea's burgeoning 'green' businesses, creating export leads and jobs, the bank chief Kim Dong-soo said on November 17.
Under the program, the bank will put $200 billion into the industry by 2020 to help related companies to win 500 orders to build green plants overseas and nurture 200 exporters in the renewable energy sector by the target year.
Currently, only 40 domestic companies are active in renewable energy export. The program is expected to add $35 billion in annual export and to create 34,000 jobs by 2020.
3. Subject: Retailers and food industry cash in on the CSAT
Date: November 18, 2010
Source: JoongAng Daily
As the nation's high school seniors sit down today for the College Scholastic Ability Test (CSAT), tensions are high. However, this annual coming-of-age rite is also a bastion of moneymaking for retailers and consumer goods manufacturers as they engage in “pre-CSAT marketing” and “post-CSAT marketing” campaigns. Local department stores are hosting events to help students blow off steam after the exams end. Lotte Department Store will set up a “CSAT escape zone” in its Gangnam outlet in southern Seoul on Nov. 20, offering free caricature drawings and tarot card readings to every customer with a CSAT identification slip. At Lotte?s Joongdong Branch, an arcade punching game will be set up on Nov. 20, while on the 21st a concert will be held. Hyundai Department Store?s Cheonho branch will give away 100 free tickets for the movie “Social Network” or the exhibition “Da Vinci - The Genius” currently showing at the War Museum in Yongsan, southern Seoul, for students with identification slips. At Hyundai's Sinchon outlet, the identification slips will be used as raffle tickets in a lottery event from Nov. 19 to 28 that includes netbooks, iPods and restaurant gift certificates as prizes. Shinsegae Department Store will hold a mini-concert of the popular hip-hop duo Supreme Team at the culture hall of its flagship outlet in Myeong-dong, central Seoul on Nov. 20 for the first 100 customers displaying identification slips.
Exam takers will also be offered a 10 to 20 percent discount on some items at multiple department store outlets in the metropolitan area from Nov. 18 to 21. In a season that traditionally generates the best revenues for department stores, post-CSAT marketing has become a mainstay event. “November is one of the biggest months for department stores, and as the CSAT takes place during this period, students taking the exam are a key demographic target,” said Gu Bon-yong, a spokesperson for Lotte Department Store. Food manufacturers have also focused on the young customer market.
During the past few weeks, food manufacturers have been selling products to help digestion and lower the stress of students taking the test. Marketing campaigns highlight “brain food” as a major selling point, employing scientific terms such as DHA and Theanine to underscore their effectiveness. For example, Korea Del Monte Fresh Produce Company came up with the “Del Monte 1,230 Banana Campaign,” with “1230” denoting that in one day, a student should have two bananas - one in the morning and another 30 minutes before going to sleep - to facilitate brain activity through the consumption of Vitamin B. Dongwon?s “DHA Brain Milk” claims to allow the easy consumption of DHA, an omega-3 fatty acid said to form brain cells and help improve neurotransmissions in the brain.
The milk is sold at a slightly higher price than normal brands, costing 900 won ($0.79) and 2,500 won for a 180-milliliter (6.08 ounces) and 900-milliliter carton, respectively. Amore Pacific, the cosmetics firm which also produces Osulloc green tea, came up with “Brainplus,” a powdered tea full of theanine - an ingredient known to help memory and concentration. There is also a slew of special offers of rich foods for after the test. VIPS, the buffet restaurant operated by CJ Foodville, will offer a discount of 5,000 won on all steaks for customers holding a CSAT identification slip until the end of the month.
4. Subject: Rice noodles gain steam
Date: November 18, 2010
Source: Korea Herald
While companies that make noodles usually use flour as the main ingredient, more are starting to develop products based on rice instead. Among them, Nongshim has created some relatively unique noodle offerings, including products aimed specifically at weight-conscious consumers. In 2007, Nongshim founded Noksan Factory, which specializes in making healthy noodle products. It completing the manufacturing line to mass-produce rice noodles earlier this year, launching Doongji rice ttukbaegi, Doongji rice jjajangmyeon and Doongji rice curry noodles. In October, it also released Hururuk beef jjajangmyeon.
Each product is composed primarily of rice, meaning the noodles are easy to digest and fill you up quickly. The most popular of these products is the Doongji rice ttukbaegi, as consumers snapped up more than 10 million bags in just three months.
Nongshim has invested over 50 billion won since the end of 2007 in research and development and in constructing production facilities.
The company has pioneered the market for Northeast Asian-style rice noodles, which have become a big hit with consumers.
The rice noodles incorporate the traditional pasta-producing techniques honed in Italy with the company's 45 years of experience making ramyeon, allowing Nongshim to develop the first dried Korean-style rice noodles on the market. Aside from rice noodles, Nongshim makes many other products featuring rice, including snacks and noorunggi offerings. By developing new products and aggressively marketing them, the company plans to increase the portion of its sales generated by rice-based products to 10 percent by 2012 ? up from about 5 percent of its revenue now. A big part of this strategy involves introducing new products like rice-based ramyeon with various kinds of broth. Nongshim plans to usher in an entirely new concept in the ramyeon and snack markets, hoping to diversify options for consumers.
It recently launched a product called Mi-in noodle 275 aimed specifically at weight-conscious consumers. With these moves, Nongshim is continuing its tradition of innovating the noodle market by rolling out new products at a rapid clip.
In the realm of ramyeon, for instance, it introduced the Doongji naengmyeon and Hururuk noodle brands. By offering new products and expanding into new areas, Nongshim plans to further increase its presence in the noodle market and provide better value to consumers.
5. Subject: Economy faces 7 hurdles in 2011
Date: November 18, 2010
Source: Korea Times
The Korean economy is facing a bumpy road ahead on its path to full recovery as several economic hurdles, such as a slowdown in the global economy, the China risk and rising raw materials prices are expected to stand in the way of its rebound.
In an international seminar on the outlook for the global economy and financial market for 2011, in Seoul, Friday, the Korea Center for International Finance (KCIF) identified seven key economic risks that could threaten the global economy next year.
The seven hurdles are debt trouble in Europe, the China risk, global currency disputes, the U.S. quantitative easing policy, a possible slowdown in the global economy, rising international prices for raw materials and overshooting in the U.S. bond market.
It said that there is a high possibility for Ireland and Portugal to receive a rescue package from the International Monetary Fund (IMF) and the European Financial Stability Facility (EFSF). “There are rising concerns for Ireland and Portugal, as the Irish banking industry is on the edge of insolvency and Portugal has failed to speed up the fiscal deficit reduction,” it said. “If a bailout package is delayed, the crisis might spread to other European nations.” The KCIF said that the crisis will not settle down smoothly. “If the bailout deal is reached without a hitch, the worries over all of the eurozone PIIGS will calm down to some extent, but it will not be easy to eradicate the challenges in the early stages,” it said. PIIGS refers to Portugal, Italy, Ireland, Greece and Spain, the countries which were considered weaker economically following the fiscal crisis in the eurozone.
It added that Spain and Italy are tinged with uncertainties, such as a possible economic recession and political unrest. China's murky outlook can also be a drag in the global economy next year. China's consumer price index (CPI), a main gauge of inflation, climbed to a 25-month high of 4.4 percent year-on-year last month, way over its inflation target of 3 percent, raising speculation that the world?s fastest-growing major economy might adopt a tight-money policy. The property market, which takes up a big portion of the Chinese economy and government revenue, is faltering due to inflated supply and possible pending regulations, which can also weaken growth engines like consumption and investment.
The KCIF also said that conditions at home and abroad will not be favorable to its exports. “Export growth will drop from about 28 percent to about 13 percent due to declining demand from its leading importers European Union (EU) and the United States,” it noted.
The currency issue has been a long-standing one, but since late 2009, the global currency feuds have sharply escalated.
In addition, as the United States has failed to have a bigger say on the issue than before, settling the problem requires more difficult stages. The recent disputes are comprised of a combination of several factors _ global imbalance, a slowing U.S. economy (long-term factor) and Japan's currency intervention and political events (short-term factor). “Although short-term factors have been ruled out, it will frequently come to the surface unless the global imbalance shrinks,” it said. “The United States and China are expected to solve the issue via bilateral talks rather than multilateral negotiations, while other countries will try to unravel the issue in the framework of the agreement reached from the G20 Seoul Summit and Finance Ministers and Central Bank Governors Meeting in Gyeongju.” The global economy has lost momentum since the second quarter of this year.
Fears of a double-dip recession have been rising, as well. Southern European countries have relapsed into another financial crisis, hitting the global markets hard, but there is a slight possibility for a double dip to occur.
It said that the gross domestic product (GDP) growth of the global economy is forecast to tally 4.2 percent in 2011, down 0.6 percentage points, according to the IMF. “Global trade growth will decrease from 11.4 percent in 2010 to 7 percent in 2011,” it said.
The KCIF said that the $600 billion U.S. money-easing policy will have a limited effect in lowering interest rates to stimulate the economy. “The policy can trigger asset bubble risks in emerging markets.
In addition, the inflow into them can float their currencies to hurt export competitiveness,” it said. The KCIF said that soaring raw material prices and a potential overshooting in the U.S. bond market are factors to watch for in the upcoming year. Meanwhile, it said the won appreciation will continue and the local stock market will post modest gains on the back of a further upside in the global market.
6. Subject: OECD sees 2011 growth of 4.3 percent
Date: November 20, 2010
Source: Yonhap News
Korea's economic growth is expected to slow to 4.3 percent in 2011 from this year's estimated 6.2 percent on weaker exports, industrial output and business investments, according to the Organization for Economic Cooperation and Development. The OECD said Korea's economy, which grew just 0.2 percent in 2009, should make a full recovery this year, buoyed by double-digit export gains and domestic demand.
It said Asia?s fourth-largest economy should grow by 4.8 percent in 2012. The forecast for next year is lower than the target set by Seoul, which claimed that growth around 5 percent may be possible.
The OECD said Korea could also face a slowdown in the construction sector, with declines likely in home prices next year. It said the economic slowdown is due to the global economy hitting a “soft patch” as economic stimulus measures start to wear off and affect both industrial production and trade volume. The latest report said that while growth numbers may trail off early next year, solid export gains and buoyant domestic demand may boost growth to the 5 percent level toward the end of 2011.
It said wages in the country will go up, which can further fuel domestic demand. “Rapid employment gains have reduced the unemployment rate to around 3.5 percent, close to the country's precrisis level, and the capacity utilization rate in manufacturing reached a record high,” the report said. Despite some decline in recent months, business and consumer confidence remain high and can contribute to steady growth, it said.
Source : http://www.depthai.go.th