( http://www.researchandmarkets.com/research/d74dd1/south_korea_food_a) has announced the addition of the "South Korea Food and Drink Report Q3 2008" report to their offering.
The South Korea Food Drink Report provides independent forecasts and competitive intelligence on South Korea's food and drink industry.

BMI has long been reporting on how the emerging market of South Korea is increasingly beginning to resemble that of some of the Asia Pacific region's more developed markets. A per capita food consumption forecast of US$1,641 in 2012 is just one characteristic example of this. Likewise, we have also been reporting on how immensely promising growth opportunities are still available in the market, provided investors know where to look; the beverage industry being one such example.

In BMI's newly published South Korea Food & Drink Report for Q308 we discuss some of the trends prevalent in the country's still-dynamic drinks industry. UK spirits major Diageo has been linked with acquisitions in the soju sector, something the company itself denies, but a rumour that reflects the increasing value of that category. Meanwhile, Jinro -- the soju market leader -- appeared closer to relisting on the South Korean stock exchange on the back of its strong Q108 performance. Strong demand for soju saw its Q108 sales climb by 3.9% to US$168.9mn, while profit increased by 30% to US$33.5mn. Nonetheless, despite strong investor and consumer interest in the soju industry, sales figures released by South Korea's leading retailers revealed that for the first time, sales of wine in the country had overtaken those of soju. In the first five months of 2008, the value sale of wine at supermarkets reached US$23.9mn, while sales of soju stood at US$23.7mn.

The figures are in line with BMI's growth expectations for the wine sector. To 2012, we are forecasting that wine sales in the country will increase by an incredible 174% in value terms and 52% in volume terms. This compares to a volume growth forecast of 25% and 18% for the spirits and beer sector respectively. While these forecasts are inevitably coming from a lower starting point, they might give Diageo food for thought. The company has a number of core wine brands, Piat D'Or and Blossom Hill among them, and could further explore this channel as a means of securing growth beyond the maturing whisky sector but without relying on a potentially costly soju acquisition. South Korea's alcohol industry dynamism has filtered through to its soft drinks sector. This quarter, LG Household & Healthcare has revealed the Q108 performance of its newly acquired beverage division (acquired from Coca-Cola Amatil in October 2007). LG H&H has seen sales increase by 16.8% to US$111mn and posted an operating profit of US$8mn. Growth has been attributed to strong consumer demand for the Coca-Cola brand and the improved performance of innovative, non-carbonated beverages.

Activity in both the soft and alcoholic drinks sectors shows that South Korea still represents an excellent investment opportunity - combining high existing spending and promising growth channels - however, as the prevalence of acquisitions testifies, this window of opportunity will not remain open for ever.