McDonald's, Starbucks, Paik's Coffee Develop New Regional Specialty Menus
'Value Consumption' by MZ Generation Responds to Corporate Win-Win Efforts
"As a Trend Axis... Continuing to Discover Hidden Gems"
Jindo Green Onion Burger, Jeju Matcha Frappuccino, Goheung Yuzu Smoothie...
The 'Loconomy' craze of eating and drinking food and beverages made from local specialties continues this year as well. Efforts by companies to coexist with farming communities have met the MZ generation, who value 'value consumption,' making Loconomy a key trend.
According to the distribution industry on the 6th, The Born Korea's coffee specialty store Paik's Coffee launched new menu items using domestic agricultural products for the first time in 2024: Green Onion Cream Potato Latte and Jeju Tangerine Juice. The Green Onion Cream Potato Latte is a menu featuring a soft and fluffy potato latte topped with light green-colored green onion cream, boasting a unique flavor harmony. The Jeju Tangerine Juice is made by blending tangerines to richly enjoy the original taste and aroma of the fruit.
A Paik's Coffee representative said, "We continue the 'Our Value Project,' which aims to coexist with local farms by using domestic agricultural products to provide fun and delicious experiences," adding, "We plan to continuously introduce various new menus made with healthy agricultural products in the new year."
Paik's Coffee's Our Value Project is part of Loconomy. Loconomy is a newly coined term combining Local and Economy, referring to the economic phenomenon of producing and consuming products or services in collaboration with local specialties. Efforts by companies to coexist with farming communities have met the MZ generation, who value the worth inside food as much as its taste and quality, making it a growing trend in the food industry. Loconomy is becoming a significant boost for rural areas seeking stable sales channels.
The leading player in Loconomy is McDonald's. Since 2021, McDonald's has been running the 'Taste of Korea' project using domestic agricultural products. They released the 'Changnyeong Garlic Burger' in 2021, the 'Boseong Nokdon Burger' in 2022, and the 'Jindo Green Onion Cream Croquette Burger' in 2023. These products have stimulated consumer curiosity and sold over 19 million units by last year. As a result, about 130 tons of Changnyeong garlic were procured, and about 100 tons of Jindo green onions were purchased, contributing to the income generation of local farms. A McDonald's Korea representative said, "We will continue to seek and implement ways to coexist with the local economy from the menu development stage."
Starbucks Korea also sells about 30 products using domestic agricultural products, including 'Mungyeong Omija Fizzio,' 'Jeju Matcha Frappuccino,' 'Gongju Chestnuts in One Bite,' and 'Okcheon Pumpkin Latte.' Going forward, they plan to more actively develop beverages and foods that utilize local specialties and support local farms. In December last year, they signed a cooperation agreement with the Ministry of Agriculture, Food and Rural Affairs to promote the consumption of domestic agricultural products, and as the first signal, food products using powdered rice will be released in the first half of this year.
As Loconomy grows into a key trend in food and beverage rather than a fleeting fad, the industry is focusing on discovering 'hidden gems' that have yet to be uncovered. A distribution industry official said, "Seasonal ingredients change with the seasons, often resulting in limited-time menus, and this rarity is attracting the interest of the MZ generation," adding, "We are actively seeking Loconomy new menus that can increase corporate sales and secure stable sales channels for farms."
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