Ornua, the Irish dairy group, has launched its Kerrygold butter brand into the South Korean market.
The product was unveiled to Korean consumers by Ireland’s Minister for Agriculture, Food and the Marine, Michael Creed, at a launch in the Hyundai Department Store in Seoul, during an Irish trade mission to South Korea and Japan.
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Kerrygold will be sold through “major Korean retailers,” Ornua said.
The company said Kerrygold’s entry into the South Korean market is the latest step in its growth in Asia.
In recent years, Ornua has introduced products in China, Singapore and Malaysia. As milk deficit regions, these countries offer potential as a route to market for Irish dairy exports, it said.
John Jordan, the CEO of Ornua’s operations in the EMEA and Asia regions, said: “Today marks Ornua’s entry into the South Korean market and is an important milestone in the continuation of our expansion into the key Asian market.
“Opening new routes to market, such as South Korea, is a central pillar of Ornua’s strategy to develop Kerrygold from a butter brand into a EUR1bn (US$1.17bn) global dairy brand. Today’s announcement is also an key step in further diversifying our customer base, a particularly important consideration for Irish dairy farming in the current political environment.”
Kerrygold reported record annual retail sales of EUR900m in 2016. Last year also saw the launch of Kerrygold yogurts in Germany, Kerrygold spreadable in the UK and the continued roll-out of Kerrygold Irish Cream Liqueur across Europe and the US.
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