South Korea Food and Drink Report Q1 2013

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South Korea Food and Drink Report Q1 2013 Jan 25th 2013, 00:00 Despite widespread calls for a bottoming out in South Korea''s economy, we believe the worst is yet to come.Indeed, forward-looking macro indicators suggest to us that economic weakness is likely to persist well into2013. We expect real GDP growth to come in at 3.0% in 2013, which remains below consensus''expectations of 3.4%. The domestic property market is likely to remain weak amid the bleak economiclandscape. A supply overhang and the country''s perennial household debt situation are also likely to keepdownward pressure on prices. All this bodes ill for private consumption.Headline Industry Data (local currency)? 2013 per capita food consumption = +2.9%; fore...

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