Viabilities of manufacturing halal food products in the Republic of Korea

Bachelor Thesis from the year 2017 in the subject Business economics - Market research, grade: A+, Universiti Brunei Darussalam, language: English, abstract: This study aims to explore the potentials of producing halal food products in Korea as halal animal meat manufacturing facility at primary stage; and to examine the viability of developing halal food manufacturing industry. There are about 1.6 billion Muslim population in the world, which is one fifth of the world population, and they are not only within the confines of the Arabian Gulf states but widespread all around the world. Followed by an analysis conducted by Pew Research Center, Muslim population make up about 23% of the world's population and is expected to reach 26.4% of in a decade's time, which is equivalent to 10 per cent annual growth of the industry. Muslim communities were created by ties of Islam that bound all Muslims together, requiring them to comply with the basic requirement of the religion in their way of life. However, diversity may be identified among Muslims by differences in appearance, culture, customs and lifestyle through the spread of Islam. Along with the widespread and rapid growth of Muslim population globally, halal industry is highlighted as a significant growing industry - a new "Blue ocean" in global market.

According to the Oxford Dictionary of Islam, Halal refers to "lawful" and "permissible" in Islamic law, which recognised as a standard for food, products, behaviours and services that are allowed for Muslims to consume. Initially, halal industry seems only relevant to Muslim-majority countries, however, it is now increasingly spreading to non-Islamic nation-states. Muslim consumers identify halal food and non-food products as obligatory to consume and use, and non-Muslim consumers often recognise halal food and non-food products as good quality (Riaz & Chaudry, 2004) and healthy because they are specially processed with strict requirements to prevent harms and for the highest standards of Tahara - physical sense of purity, hygiene and quality. Halal certification increasingly gains its trust globally, not only as a religious matter of choice but as a method of accreditation of safety, for example, Malaysian government requests all halal certification applicants to submit Good Manufacturing Practices (GMP) and Hazard Analysis Critical Control Point (HACCP) to ascertain the safety of food to be consumed.