Korean food firms capitalize on international travel surge

[Photo by OURHOME]

As the number of travelers visiting Korea from overseas increases, more Korean food companies are seizing the opportunity to promote K-Food at airports. With the summer vacation season leading to a surge in outbound travel, these companies are anticipating a significant boost in sales.

According to data from Korea Culture & Tourism Institute, 4.87 million foreign tourists visited Korea from January to April 2024, up 87 percent compared to the same period during the previous year. The number of Korean travelers going abroad also totaled 9.54 million, up 47 percent on-year. This travel boom has led to a thriving airport dining scene, with new outlets opening steadily.

Food company OURHOME announced on Monday that it opened its K-Food curation space ‘Hansik Sodamgil’ at Incheon International Airport’s Terminal 1 on June 12th, 2024. Hansik Sodamgil features certified local gourmet restaurants and ‘Centennial Shops’ that are recognized by the Ministry of SMEs and Startups for maintaining their legacy for over 30 years. The aim is to introduce K-Food to foreign visitors and enhance the dining experience for airport users.

“Airport dining facilities are crucial for companies to enhance brand value and secure consumer trust. They serve as reference points when we are thinking about expanding globally or entering new markets,” a food industry insider said.

OURHOME secured the contract to operate Incheon International Airport Corporation’s FB3 3 area in 2023. The company’s airport food and beverage sales have skyrocketed as the demand for travel rises. Sales at Terminal 1 soared by 160 percent in the first quarter of 2024 compared to the same period during the previous year, while Terminal 2 saw a 65 percent increase.

Looking ahead, OURHOME plans to open around 40 new outlets, including food facilities, beauty shops, cafes, and bookstores, by 2025. Of these, 15 will be directly operated food and beverage outlets.

Other companies entering the airport dining market also saw their sales increase thanks to the surge in both Korea and international travelers. Lotte GRS, which operates Lotteria and Angel-in-us, reported a 45 percent increase in airport food and beverage sales in the first quarter of 2024. Sales at Incheon and Gimhae airports, which handle a high volume of international flights, grew by 60 percent and 57 percent respectively. Lotte GRS also plans to expand its Pleating food court brand, opening a new food court in Incheon Airport’s Terminal 2 in July 2024, with three more to follow by 2025. It will also increase the number of its food and beverage outlets from 33 to 49.