Bring water to boil in small saucepan. Add jelly powder; cook and stir on low heat 2 to 4 min. or until jelly is dissolved. Add granulated sugar; cook and stir 3 to 4 min. or just until sugar is dissolved. (Do not boil.) Stir in corn syrup. Transfer to large bowl. Refrigerate 25 to 30 min. or until lukewarm.