The following is a Q&A session with Soh-jung (Lauren) Yoo on her motivation for founding AgriVogue and her outlook on international food trade.
Q. Why are you focused on agri-food trade?
A. I feel that there is a lot of unnecessary misunderstanding between cultures. This is evident in many of the imported food products in both North America and South Korea. You can blame this on the weakness or wrong approach in communication stemming from cultural misunderstanding. More emphasis placed upon the differences and similarities between cultures would enable markets to realize the full potential of a product.
In other words, I believe glocalizing agri-food products raises the chance for greater success. Also, people in general love food and enjoy discovering new tastes and experiences, which is made more dynamic and rich through trade. Choosing the right product to begin with, of course, cannot be important enough.
Also, the evolving business landscape prompted by globalization raises an interest in trade, which is evident in the current pace of securing free-trade pacts. A couple significant examples are the FTAs implemented between South Korea and the United States, as well as between South Korea and the European Union. The business challenge, of course, is identifying those opportunities and applying the right approach to win consumers’ hearts — and that’s why AgriVogue is here.
Q. How about the actual trade? Isn’t the area of agriculture always the most sensitive topic in trade negotiations?
A. Yes, it is true that countries are reluctant to fully open up their domestic agriculture market even in a free-trade agreement. Countries, however, cannot live in isolation in this global era, and trade can help sustain economic growth and secure national food supply.
Also, agriculture trade means opportunities for processed and packaged foods, and doesn’t necessarily mean just raw materials. This in turn encourages local farmers and businesses to boost their global competitiveness, which is healthy for a nation. That’s why there is all the more room for opportunities in the agri-food sector.
Q. Why are you focused on Canada, the United States and South Korea?
A. Firstly, Canada and the United States together make up one of the largest, most sophisticated, and advanced consumer markets in the world. The North American market alone has so much international influence on setting global trends and standards. It also has the most ethnically diverse population in the world, which potentially means the chance to market products to the world.
Also, the U.S. is the world’s largest economy, and Canada is a strong major economy that is inextricably linked to it. The competitiveness of North America’s agri-food sector, and the variety it offers, also makes their goods coveted by South Korean consumers.
And secondly, South Korea may be geographically small, but its economic prowess and geopolitical position in the Asian region make it a unique and attractive market. It is the only Asian country to have a comprehensive FTA with the global economic heavyweights of the United States, the European Union, and China. This makes South Korea a strategic point of market entry into the wider Asian region by Western businesses.
South Korea is also democratic, and its developed free-market economy is resilient when it comes to overcoming a crisis, as displayed in the most recent case of the unprecedented global financial crisis. It is one of the strongest economies among the group of OECD nations, underscoring South Korea’s aggressive efforts to be world-class and to attract foreign investment.
Its economic status and consumer behavior have also prompted many multinational companies to choose Korea as a test bed for launching new products in Asia. South Korean consumers are in general reputed to be one of the most demanding and finicky in the region.
On the agri-food front, I believe Korea is just waiting to be discovered by not only consumers but also businesses like wholesalers and retailers in the West.
Location is another advantage. South Korea is only an ocean away from the major ports along the U.S. and Canadian west coast, dubbed the "Asia-Pacific Gateway." I would like to stress that the Korea-U.S. FTA will only further fuel cross-cultural exchange between the two regions. Also, a free-trade pact between Korea and Canada took effect on January 1, 2015.
Q. What moved you to create AgriVogue Consulting Inc.?
A. I have to thank the opportunity I was given at The Korea Herald to cover business and economic news. This period widened my perspective on how the world works and how important cross-cultural exchange is based on understanding and respect.
On this thought, as the reporter covering the agriculture and food industry, I discovered a lot of neat and fascinating things about this business. Also, as the trade ministry correspondent, I learned that the world is interconnected and how greater exchange opens up opportunities than if a country were reclusive and in isolation.
I also thought about my other home country, Canada, and its place in the world and its relations with Korea. As a Korean-Canadian, I thought I could do something with the experience I’ve gained to give both sides the chance to engage in more exchange and deepen understanding through trade. And with agri-food products, they’re fun and have the power to communicate a lot about a culture, be it differences or similarities.
Also, South Korea is misperceived as an underdeveloped and dangerous country by many people around the world because a lot of the country’s international media coverage is tied to the impoverished communist North Korea. I want to dispel this misperception. In reality, the difference between the South and North is like day and night. Anyways, I don’t want to get political here.
Basically, I was drawn by South Korea’s agri-food industry, and I felt Canadians and Americans could have so many more interesting products to enjoy in today’s interconnected world. Korea’s agri-food sector has a lot to offer, especially if industry players make the era of FTAs a golden opportunity.
And of course, South Koreans would love to be able to enjoy many of the products that only North Americans currently have access to. This is why AgriVogue’s vision statement is “food transcends all boundaries.” Edibles have the power to move and please people, regardless of cultural differences.
Q. What is your vision?
A. My vision is in our corporate vision statement - "food transcends all boundaries." This statement carries significance in that it means our organization believes in overcoming cultural, socio-political, and economic barriers.
Essentially, we want to remove all kinds of boundaries by unearthing and embracing the universal language of food. This philosophy is embodied in the corporate name “AgriVogue,” which exudes touching the lifestyles of individuals by shaping their lifestyles.
AgriVogue is in the forefront of providing this unique service by specializing in what I call the "emerging of a cross-cultural food industry."
"This is why AgriVogue’s vision statement is ‘Food Transcends All Boundaries.’ Edibles have the power to move and please people, regardless of cultural differences."
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