WEBVTT

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<v Speaker 1>Oh Canada, Hero Donald crashing, the economic recession looming.

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<v Speaker 2>What happens next? Watch what happens will happen right here.

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<v Speaker 3>On fifty five KRC, the talkstation.

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<v Speaker 4>At six fifty five air CD talk station lighting things

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<v Speaker 4>up on a Wednesday, which is always a wonderful thing

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<v Speaker 4>to do. We'll get We'll hear from Judge Anabolatan at

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<v Speaker 4>the bottom of the r as we always do every

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<v Speaker 4>Wednesday on the fifty five Krcy Warns Show. We will

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<v Speaker 4>hear from Rebecca Cerndorff, Ohioans for Child Protections got a

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<v Speaker 4>horrific story about a child molester who was a priest

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<v Speaker 4>and he wants some lenien C now that he's getting

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<v Speaker 4>out of prison. He doesn't want to register as a

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<v Speaker 4>sex offender or something. So I got two words for him.

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<v Speaker 4>And it ain't happy birthday as Dad used to say.

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<v Speaker 4>But I am pleased to welcome back into the fifty

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<v Speaker 4>five KRC Morning Show studios. Keegan Corcoran from Ignition Wines.

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<v Speaker 4>He is a wholesale wine distributor. If you are a

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<v Speaker 4>wine business and you want to buy, go to Keegan

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<v Speaker 4>ignitionwines dot com. If you're a restaurant and you want

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<v Speaker 4>to buy go to ignitionwines dot com. He is one

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<v Speaker 4>of the high level samers on the planet. He's just

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<v Speaker 4>one step below the highest tier you can get. Good

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<v Speaker 4>to see again, Keegan, you brought a friend with you

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<v Speaker 4>from Avenia Wines located in Washington State, Thomas Woodley. Thomas,

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<v Speaker 4>this was really fun talking with you off Aaron, and

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<v Speaker 4>I'm glad to have you in the studio today.

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<v Speaker 5>Yeah, thanks for having me. It's always good to be

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<v Speaker 5>back in Cincinnati.

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<v Speaker 4>Now, if I was able to drink in studio, I

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<v Speaker 4>would tell my listeners that you make a fantastic wine

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<v Speaker 4>called Lydion, which is a white blend of Sauvignon blanc

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<v Speaker 4>and semeon. Is that if I got that right? Yeah,

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<v Speaker 4>got it right, But Chris, wonderful refreshing Again, if I

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<v Speaker 4>could drink it, I would know that that is the

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<v Speaker 4>case with the wine. But I'll have to wait till

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<v Speaker 4>after the show's over to figure that out on my own.

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<v Speaker 4>But we'll talk a little bit more about wine. But

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<v Speaker 4>the reason we have Keegan and Thomas and studio is

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<v Speaker 4>to talk about what is actually really far more complicated

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<v Speaker 4>than I was boiling it down to the proposed tariffs

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<v Speaker 4>on wines, imported wines. Now, Donald Trump announced at one

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<v Speaker 4>point he was going to be a two hundred percent tariffs.

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<v Speaker 4>Now was it on all imported wines Spain and you know,

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<v Speaker 4>yeah from Okay? Correct, Yeah, European Union wine blanket tariff

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<v Speaker 4>two hundred percent okay. And the motivation for that, as

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<v Speaker 4>you explained to me, is their tariff on imported whiskey

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<v Speaker 4>from America.

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<v Speaker 1>Yeah, fifty percent I think was the retaliation for So

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<v Speaker 1>it was kind of a response to that, particularly Bourbon,

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<v Speaker 1>which you know, our proximity to Bourbon country is you know,

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<v Speaker 1>we we don't want to feel the affects home too much.

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<v Speaker 2>So I can understand a lot of people that can bourbon.

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<v Speaker 4>To Americans and most notedly by friends of Kentucky, although

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<v Speaker 4>I know you can make it elsewhere. That's like champagne,

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<v Speaker 4>and the name champagne is to French. If it ain't

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<v Speaker 4>grown in the Champagne region, it's not champagne to be bubbly,

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<v Speaker 4>sparkling wine. But you can't call it champagne, can do.

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<v Speaker 4>They even make bourbon in France, not in France. They

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<v Speaker 4>make it in other parts of the United States. But no, no, no,

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<v Speaker 4>I'm talking about they can't get our bourbon. They have

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<v Speaker 4>been posed, correct, you eve imposed attacks on something that

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<v Speaker 4>a lot of French people might want, but it comes

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<v Speaker 4>at a much higher cost to the French people. It's

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<v Speaker 4>deprived them of a very wonderful option in terms of

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<v Speaker 4>spirit or of the gods man, of course, especially if

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<v Speaker 4>you get the right kind of bourbon. I've become a

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<v Speaker 4>Bourbon fan of the last several years. I was always

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<v Speaker 4>Scotch McCallum, mcalum mcalumccowen. But any event, now Thomas and Keegan.

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<v Speaker 4>My initial reaction was, well, if the tariffs go through

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<v Speaker 4>right or wrong, and I'm not a tariff guy, but

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<v Speaker 4>if it's fifty percent, I can at least arguably justify

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<v Speaker 4>a fifty percent tax on the imported wines. Going to

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<v Speaker 4>afrom with a sledgehammer and saying two hundred percent seems arbitrary,

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<v Speaker 4>And of course it's a divisive thing, and it creates

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<v Speaker 4>division between our country and the European Union.

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<v Speaker 2>We can't we don't need any more of that given

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<v Speaker 2>the current climate.

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<v Speaker 4>But I thought, well, won't that be good for domestic

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<v Speaker 4>wine producers such as yourself with a viney wines. But

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<v Speaker 4>there's it's more complicated than that I found out. Thomas

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<v Speaker 4>explained that it.

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<v Speaker 5>Is a bit so so a pretty like US, which

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<v Speaker 5>is a like I would say, you know, a mid

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<v Speaker 5>cap producer in Washington State, we do about twelve thousand

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<v Speaker 5>cases a year.

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<v Speaker 2>Okay, give you give you.

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<v Speaker 5>A ballpark of what that looks like at any one time.

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<v Speaker 5>Back in the day, Chachel Sam Michelle, which is the

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<v Speaker 5>biggest winery in Washington State has been for years, had

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<v Speaker 5>a standing order where they had to have I think

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<v Speaker 5>a million cases of Chardonnay ready to bottle at any

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<v Speaker 5>given time.

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<v Speaker 2>Holy cow.

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<v Speaker 3>Yeah, So it's it's we're small.

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<v Speaker 2>We're small, right.

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<v Speaker 3>So the distributors that we deal.

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<v Speaker 5>With in in in the in the US, we work

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<v Speaker 5>with twenty three different distributors. After the repeal of Prohibition

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<v Speaker 5>three cheer system came out Nickel Tour is that if

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<v Speaker 5>you do any interstate business, you have to appoint a

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<v Speaker 5>distributor within that state to carry your wines if you're

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<v Speaker 5>not from that state. Okay, So legally I can distribute

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<v Speaker 5>my own wine within Washington State. We happen to have

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<v Speaker 5>a distributor, but there's no law preventing me from just

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<v Speaker 5>doing direct any distributor that I deal with, I'm trying

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<v Speaker 5>to think if there's any that don't have some sort

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<v Speaker 5>of import exposure.

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<v Speaker 3>Basically all of them.

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<v Speaker 4>Do, right, Because so if you're like keyan ignitionwines dot com,

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<v Speaker 4>you're buying wines from Washington State, you know, from California,

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<v Speaker 4>but you're also buying them from South America or Spain

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<v Speaker 4>or Portugal or France, Italy. Correct, So their bottom line

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<v Speaker 4>is impacted because of these tariffs. Now they may have

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<v Speaker 4>a huge selection offerings of domestic wine, but their business

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<v Speaker 4>is contingent also upon import of wines.

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<v Speaker 5>Yeah, and the health of their businesses. Right, So if

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<v Speaker 5>the tariffs, the first blush is that the I guess

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<v Speaker 5>the knee jerk reaction to the two hundred percent tariffs

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<v Speaker 5>is like, well, this is going to benefit domestic wine,

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<v Speaker 5>and maybe in the short term it would. We're starting

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<v Speaker 5>to see bits of pickup where distributors that have significant

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<v Speaker 5>import exposure, which is kind of what it is at

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<v Speaker 5>this point, have started to beef up.

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<v Speaker 3>On their inventories of domestic wine.

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<v Speaker 2>But the problem is for the loading up in advance

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<v Speaker 2>of the terror, loading up in advance.

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<v Speaker 5>Doing it cautiously and doing it mindfully, but that But

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<v Speaker 5>what ends up happening is is all that that money

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<v Speaker 5>that's going to eventually pay me is gonna is gonna

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<v Speaker 5>dwindle because it's reliant upon import wines. So all the

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<v Speaker 5>money comes out of the same, the same bowl I

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<v Speaker 5>get you. So and if there's not money in that bowl,

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<v Speaker 5>then they can't buy my wine. So they need they

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<v Speaker 5>need the import business as a measure of keeping their

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<v Speaker 5>lights on and doing and doing, you know, keeping their

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<v Speaker 5>revenues where they need to be in order to be

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<v Speaker 5>a properly functioning company.

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<v Speaker 4>In terms of business operation. Now there's a little wine

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<v Speaker 4>store up the street from us. I like to support them.

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<v Speaker 4>The tough couple of terrific guys run and they're always

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<v Speaker 4>making great selections and great recommendations. They do not raise

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<v Speaker 4>the price of the wine they've already acquired if the

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<v Speaker 4>new acquisition cost has gone up. So if my favorite wine, Dulce,

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<v Speaker 4>at one point it was still sitting on the shelves

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<v Speaker 4>at seventy five dollars for the three hundred and fifty

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<v Speaker 4>millli liter bottle, and I had seen it at other

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<v Speaker 4>stores for one hundred and ten or twenty. The price

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<v Speaker 4>has gone up, sure, And I asked them about that.

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<v Speaker 4>I said, well, you aren't jacking the price up on

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<v Speaker 4>that adults. She said, no, we got it at a

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<v Speaker 4>certain cost, and we have our margins and we're happy

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<v Speaker 4>to just let it go until it's sold. And when

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<v Speaker 4>we buy new wine, we'll have to raise the price

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<v Speaker 4>because we have new acquisition costs. Is that typically what

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<v Speaker 4>most wholesalers or but most retailers do.

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<v Speaker 3>Yeah, So it would start with the winery.

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<v Speaker 5>So on this what we call the supplier side, which

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<v Speaker 5>is any winery supplying a distributor who eventually sells the

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<v Speaker 5>product to restaurants or bottle shops or whatever.

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<v Speaker 3>You establish a price with with a given vintage.

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<v Speaker 5>So, for example, the one of the wines that we're

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<v Speaker 5>tasting today is the twenty twenty.

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<v Speaker 2>Three Spo theoretically tasting.

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<v Speaker 5>Theoretically tasting, yeah, sniffing well, hypothetically tasting at the end

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<v Speaker 5>of the show, whenever you want to do it.

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<v Speaker 3>We set the price.

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<v Speaker 5>We set the price every year to our distributors, and

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<v Speaker 5>we say this is going to cost you this much

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<v Speaker 5>a case.

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<v Speaker 2>It generally isn't a.

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<v Speaker 3>Great idea to jerk around your prices.

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<v Speaker 5>Kind of figure out your cost of good sold on

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<v Speaker 5>the winery level, and you say, okay, let's hold this price.

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<v Speaker 5>But when there would be a price change would be

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<v Speaker 5>a new vintage follows. So sure, with the twenty twenty four,

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<v Speaker 5>let's say that fruit costs more or whatever, the price

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<v Speaker 5>might go up modestly, but generally you try to really

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<v Speaker 5>avoid large swings in prices to your wholesalers because that

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<v Speaker 5>puts them in a bad spot and it kind of

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<v Speaker 5>makes the winery look greedy.

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<v Speaker 3>So avoid that.

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<v Speaker 1>And there's an issue right now what they say they

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<v Speaker 1>call the premium these premiumization of wine right now, where

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<v Speaker 1>a lot of these wineries, particularly some of the higher ends,

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<v Speaker 1>more classic producers and whatnot, they're prices of skyrocketed, increased exponentially, and.

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<v Speaker 4>Just because of the name and the quality. Yeah, it's

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<v Speaker 4>just an interesting trend. I mean, there's multiple factors as

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<v Speaker 4>to like why that's happening. But then we're seeing a

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<v Speaker 4>die off on some of the sub ten dollars you know,

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<v Speaker 4>cost bottles a lot, and so like it's actually a

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<v Speaker 4>little bit better because it's driving the consumer to you know,

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<v Speaker 4>the more you know, ten to twenty dollars bottle of

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<v Speaker 4>wines or twenty to thirty bottle, you know, dollar bottle

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<v Speaker 4>of wines.

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<v Speaker 2>So in some respects that good. That's good.

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<v Speaker 1>But for you know, for your case, for Dulce Man,

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<v Speaker 1>that's uh oh, it's insane.

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<v Speaker 2>Yeah, well that that's why the bottle.

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<v Speaker 4>I got two bottles, and I know where I got them,

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<v Speaker 4>and there's still a land on their side. I haven't

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<v Speaker 4>opened them because it's got to be a damn special

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<v Speaker 4>occasion for me to crack a bottle of north of

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<v Speaker 4>one hundred dollars bottle, a hundred doll of wine. Sure,

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<v Speaker 4>I still have that the gift that I got that

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<v Speaker 4>chateau moved on Rothschild. Oh yeah, it was a gift

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<v Speaker 4>from a deer, a very very nice lady, Linda. Thank

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<v Speaker 4>you so much for that. But you know, I'm gonna

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<v Speaker 4>need something, uber outrageously a special occasion to open that thing,

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<v Speaker 4>because I found out how much that bottle's worth, Lord Almighty.

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<v Speaker 4>And see I'm not even a cab guy that much.

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<v Speaker 4>So anyhow, we'll pause, we'll bring it back. We'll talk

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<v Speaker 4>a little bit more about tariffs and the realities. Though

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<v Speaker 4>it's eight sixteen right now. If you have Karcity Talk station,

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<v Speaker 4>don't go.

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<v Speaker 1>This is fifty five KRC and iHeartRadio station Andy.

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<v Speaker 4>Andy, Hi, there's your nine first forecast. Channel Line says

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<v Speaker 4>today a sun and cloud mix with the little spotty

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<v Speaker 4>rain possible fifty two for the high down to thirty

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<v Speaker 4>five overnight, maybe patsy frost, clear skies. Game day four ten,

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<v Speaker 4>first pitch, We're gonna have clouds increasing throughout the day,

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<v Speaker 4>maybe a little scattered rain showing up around two, high

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<v Speaker 4>a fifty eight, and then around eight there's gonna be

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<v Speaker 4>steady rain showing up in the area, which is supposed

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<v Speaker 4>to last overnight. Lee says what the forecast says over

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<v Speaker 4>night forty nine, start with rain tomorrow morning and or

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<v Speaker 4>Friday morning. We'll go up to seventy seven thirty five degrees.

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<v Speaker 4>Right now, it's time for a traffic update.

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<v Speaker 2>Chuck from the.

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<v Speaker 6>UC up Triumphon Center. For National Doctors Day, we honor

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<v Speaker 6>the UC health physicians who are leading breakthroughs for better

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<v Speaker 6>Tomorrow's learn more at you see how dot com North

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<v Speaker 6>Bend seventy five continues to run over a fifteen minute

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<v Speaker 6>delay between Burlington Piking Downtown in Bend seventy four slows

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<v Speaker 6>to Montana found four seventy one break mites off and

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<v Speaker 6>on after you get pastscranmed and slow traffic. E's found

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<v Speaker 6>two seventy five between Coleraine and Hamilton Avenue into the fog.

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<v Speaker 6>Chuck Ingram on fifty five Tara scene the talk station.

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<v Speaker 4>Because he just got popped for I know, say eight

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<v Speaker 4>nineteen fifty about here see talk station talking off air,

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<v Speaker 4>talking on air, talking with Thomas Woodley.

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<v Speaker 2>From Avennio Wines.

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<v Speaker 4>They make an outstanding wine at Washington State and we've

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<v Speaker 4>got them in studio along with Keegan Corcoran from Ignition Wines,

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<v Speaker 4>the wholesale distributor of wines, including of Vennyo Wines. Because

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<v Speaker 4>we're talking tariffs now, this this creates some some logistical

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<v Speaker 4>business issues for the the the purchasers the acquired the whole,

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<v Speaker 4>the distributors of wine because now they got to pay.

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<v Speaker 4>The crapshoot game of wondering whether Donald Trump's really going

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<v Speaker 4>to actually implement it or this is just one of those.

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<v Speaker 4>We need to get the French to fill in the blank.

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<v Speaker 4>We need to get the Italians of the European Union

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<v Speaker 4>generally speaking, to do something we want, like get rid

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<v Speaker 4>of the whiskey tariff or maybe go ahead and take

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<v Speaker 4>over the fighting in Ukraine. I don't know, but if

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<v Speaker 4>he gets something that will justify him taking this threat

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<v Speaker 4>off the books, that doesn't unring the bell that many

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<v Speaker 4>distributors have already rung by acquiring a bunch of soon

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<v Speaker 4>to be more expensive imported wines. Correct, they sink a

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<v Speaker 4>lot of money into this, they.

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<v Speaker 1>Certainly do, And there's some distributors that have even gone

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<v Speaker 1>so far as to stock up on two years worth

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<v Speaker 1>of supply in anticipation of this. I think a lot

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<v Speaker 1>of us are hoping that, you know, the tariffs and

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<v Speaker 1>the threats thereof are just a device, as we were

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<v Speaker 1>talking about a second ago of hopefully bringing somebody to

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<v Speaker 1>the negotiation table and or you know, resending previously levied tariffs.

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<v Speaker 1>But that said, you still have a lot of people

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<v Speaker 1>that are tying up their capital so they have less

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<v Speaker 1>operating money to work off here in the United States.

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<v Speaker 1>And the way it works typically is, or not typically

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<v Speaker 1>how it works is you know, for for me, I

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<v Speaker 1>have standing orders in Italy, Spain and France that are

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<v Speaker 1>on indefinite hold that that means you paid for it already,

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<v Speaker 1>not yet, okay, but you got I served ten cases

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<v Speaker 1>of UFKLCO and it's they've they've allocated you that you

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<v Speaker 1>just need to buy it and pick it up. And

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<v Speaker 1>that's the problem, correct, Yeah, but you don't know when

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<v Speaker 1>the tariff's going to kick in. Right, So if if

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<v Speaker 1>I were to place that order, i'd pay for it.

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<v Speaker 1>It would be shipped, and let's say, you know, but

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<v Speaker 1>I'm avoiding that or trying to avoid having that wine

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<v Speaker 1>be you know, on a shipping on a vessel in

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<v Speaker 1>the Atlantic, and then these tariffs hit and then once

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<v Speaker 1>it lands the United States, I have to pay two

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<v Speaker 1>hundred percent to the General Fund for the Treasury effectively

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<v Speaker 1>of the United States, just to get my own property back.

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<v Speaker 4>Okay, So it's like a flight to uh to to

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<v Speaker 4>take illegal immigrants out of the country, and it's already

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<v Speaker 4>on the way and you can't turn it. You can't

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<v Speaker 4>turn it around. Now, you can't turn it around. I'm

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<v Speaker 4>just trying to draw humorous parallel if what Trump did. Yeah,

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<v Speaker 4>it's too late to turn it around in spite of

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<v Speaker 4>the court order. So well, right, that means when it

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<v Speaker 4>lands on our shore, you're gonna have to pay the

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<v Speaker 4>two hundred percent TERRIFFRCT but maybe not because you don't

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<v Speaker 4>know the specifics of how that's going to work. There's

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<v Speaker 4>a whole lot of uncertainty built into this, right.

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<v Speaker 1>Which, as we all know, you know, uncertainty is never

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<v Speaker 1>a good word that this operations with. You know, it's

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<v Speaker 1>like and and and one of my favorite you know sayings,

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<v Speaker 1>and I guess adages, you know, hope is not a plan.

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<v Speaker 1>So it's it's so I can't I can't be like, well,

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<v Speaker 1>you know, I'm gonna place this order and hope that

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<v Speaker 1>this doesn't go through. And and and there's a lot

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<v Speaker 1>of a lot of other distributors that are in the

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<v Speaker 1>same mind frame that it's like, okay, we we can't

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<v Speaker 1>take you know, this gargantuan risk of putting all this money,

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<v Speaker 1>some of which I mean and in the wine game,

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<v Speaker 1>I mean it sounds glamorous. And and even on the

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<v Speaker 1>restaurant side too, you know, it's it's it's the profit

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<v Speaker 1>margins are are not as grand as a lot of

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<v Speaker 1>people think. So so just like with any business of

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<v Speaker 1>any size, you have to, you know, stay on top

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<v Speaker 1>of your your working capital. You have to stay on

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<v Speaker 1>top of all of your expenses to make sure that

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<v Speaker 1>you can keep the lights on and the the particularly

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<v Speaker 1>European wines of the world are a big part of

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<v Speaker 1>a lot of distributors portfolios that allow them access to,

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<v Speaker 1>you know, other restaurants and other bars and whatnot.

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<v Speaker 2>See.

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<v Speaker 4>And that's the business element that that's very complicating to

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<v Speaker 4>someone who doesn't is engaged in it. If you want

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<v Speaker 4>to get into a relationship, a long standing relationship with

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<v Speaker 4>say a Jeff Ruby's where you used to be the

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<v Speaker 4>prosoma for more than a decade, you could better have

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<v Speaker 4>a good broad availability. You better have French wines, you

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<v Speaker 4>better have Spanish wines, you better have South America or

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<v Speaker 4>Australian wines.

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<v Speaker 2>You got to have it all, yep.

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<v Speaker 5>Yeah, now, And in to Keegan's point, you know that

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<v Speaker 5>at the end of the day, with with whether the

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<v Speaker 5>teriffs come through or not, and certainty, it certainly affects

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<v Speaker 5>the wholesaler business. But we're we're really, we're the rubber

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<v Speaker 5>really meets the road is in terms of what consumers

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<v Speaker 5>have available to them, right, yeah, and and and and

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<v Speaker 5>whether you for domestic wines to import wines. The whole

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<v Speaker 5>swath is healthier when there's certainty and tariffs are fine,

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<v Speaker 5>you know, but it would be, but it benefits. The

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<v Speaker 5>ultimate beneficiary to having a healthy wine market is the

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<v Speaker 5>end consumer. Yeah, because prices stay down, choice stays up,

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<v Speaker 5>and the playing field is as even as it can be.

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<v Speaker 4>Yeah, and that's what we're all I think hoping for,

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<v Speaker 4>is just even the playing field. You know why in

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<v Speaker 4>the hell? For examples, British Columbia have been imposing a

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<v Speaker 4>heavy levey on domestically produced wines. Well because British Columbia

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<v Speaker 4>has its own vennors, its own wineries, and they're trying

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<v Speaker 4>to protect that turf to the detriment of the British

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<v Speaker 4>Columbians who are deprived of choices of wines because they're

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<v Speaker 4>so damn expensive getting them in from the United States.

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<v Speaker 4>So it's just bad for everybody.

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<v Speaker 2>Guys.

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<v Speaker 4>It has been wonderful Thomas Woodley from of any of wines,

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<v Speaker 4>which also makes another I hear outstanding wins, which is

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<v Speaker 4>the Columbia Valley rose a blend. Let's keep I can

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<v Speaker 4>get this right. Seventy five percent and twenty five percent.

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<v Speaker 4>I learned a new word today.

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<v Speaker 5>Nice well moved. Yeah, I mean that's the American Washingtonian

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<v Speaker 5>slang for maved. But yeah, both Grenache and maved are

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<v Speaker 5>traditional ritals grown from the southern.

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<v Speaker 3>Rhwan region in France.

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<v Speaker 5>But we really and and a lot of times they're

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<v Speaker 5>both used for still red wines and for rose. We

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<v Speaker 5>love we we vinify this. H we make a I

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<v Speaker 5>should say, a still red wine version of grenash. We

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<v Speaker 5>work with some grenache, but it's terrific for rose. Its

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<v Speaker 5>pizza too, yeah, it is.

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<v Speaker 2>You know what.

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<v Speaker 4>A shout out to Wayfarer Tavern. Keegan brought me a

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<v Speaker 4>Wayfairer Tavern pizza and it is awesome. Gentlemen, It's been

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<v Speaker 4>a really fun conversation today, Thomas, A pleasure to meet you.

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<v Speaker 4>Congratulations on the success for your winery. Again, I'd look

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<v Speaker 4>forward out there of any wines wholesale distributed by Ignition Wines,

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<v Speaker 4>which you can find a lot of ignition wise dot com.

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<v Speaker 4>You get free clogs for you, Keegan, my dear friend.

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<v Speaker 4>You know I love you and I love your mom,

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<v Speaker 4>Claenn hang out.

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<v Speaker 2>You know your mom and.

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<v Speaker 4>Dad, Clara and Jeff. You guys out there, Uh good.

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<v Speaker 4>I can't thank you enough for bringing Keegan into this world.

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<v Speaker 4>It's been a great time. I look forward to having

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<v Speaker 4>you in again. And you know Thomas. If you're ever

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<v Speaker 4>in the area, you're always welcome to come on in

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<v Speaker 4>and talk wine during the morning.

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<v Speaker 3>Sure, I appreciate it.

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<v Speaker 2>Thanks for having me, folks.

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<v Speaker 4>It is Wednesday, Judge Enda Polaitano waiting in the wings.

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<v Speaker 4>Today we're talking history of free speech, going back to

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<v Speaker 4>the very important Brandenburg case. You might not want to

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<v Speaker 4>hear it, but you're allowed to say it.

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<v Speaker 2>Judge Enda Polaitano up next, fifty five KR