Domestic Beef Sales

[Anchor Lead]

Domestic cattle farmers have suffered financial losses of roughly 230 billion won, as beef sales have plunged since an anti-graft law went into effect last year. With some farmers even forced out of business, the domestic beef industry is seeking a breakthrough to overcome the crisis, lowering prices and promoting added value.

[Pkg]

This is a vending machine installed inside a building. As a button is pressed, a chunk of domestic beef sirloin comes out. This is a so-called beef vending machine. Marinated beef and ribs as well as raw meat are available from the vending machine. The greatest merit is the prices. Beef prices are nearly 40 percent lower, thanks to a reduction in store operation and labor costs. Products packaged in small amounts each weighing 300 grams target single-person households.

[Soundbite] Park Eun-young(32-years-old) : "Small packages are convenient to eat with no leftovers."

This is a marketplace directly run by beef farmers with reduced distribution stages.

[Soundbite] "The auction starts from KRW 1,000."

Domestic beef is being sold for significantly lower prices, as seen in full-size markets' sales events to sell it at prices that are half the usual market value. Domestic beef prices are being brought down, as cattle farmers have concluded that their financial losses are serious, as sales have reduced nearly ten percent over the past year since an anti-graft law went into effect. The largest blow is the disappearance of a business boom during the Chuseok and Lunar New Year holidays. By contrast, the sales of cheaper imported beef have increased. The sales of imported beef is larger than those of their domestic counterparts at supermarket chains. Domestic beef restaurants are striving to attract customers. A birthday candle was set ablaze on a mountain of beef.

[Soundbite] "Happy birthday to you~"

This is a cake-shaped stack of beef. Seven special parts were selected and marinated in a sauce developed by the restaurant. It was aged for three weeks in a hemp bag to produce a distinctive flavor. It appears that a revision to the anti-graft law will not come easy, despite the livestock industry's hopes. Domestic beef farmers are likely to be faced with aggravating troubles.