The government plans to accelerate the expansion of K-food exports. It aims to achieve exports of US$13.5 billion this year and has set a target of US$23 billion by 2027.
On Feb. 20, the Ministry of Agriculture, Food and Rural Affairs announced the “K-Food+ Export Innovation Strategy” to nurture K-food as a leading export strategy industry in the global market.
On the same day, the government held a meeting at the aT Center in the Yangjae neighborhood of Seoul chaired by Minister of Agriculture, Food and Rural Affairs Song Mi-ryung to discuss strategies to expand K-Food+ exports.
Last year, efforts were made to advance the industrialization of agricultural food and upstream and downstream exports, driven by collaboration between the government and private sectors. Consequently, K-Food+ exports achieved their highest-ever performance despite challenging external conditions.
Moreover, agricultural food exports have experienced eight consecutive years of growth, and the export foundation for upstream and downstream industries has been established through large-scale contracts for smart farm projects. Additionally, significant achievements have been made, such as laying the groundwork for entering the halal market following the South Korea-Indonesia summit. These accomplishments have garnered recognition for confirming the potential of K-Food+ as an export strategic industry.
In this latest initiative, the government has set “K-Food+ Leapfrogging into the Top 10 Strategic Export Industries” as its vision. It has established export targets of US$13.5 billion for K-Food+ this year and US$23 billion by 2027. This plan has been developed based on improvement tasks discussed while operating the “K-Food+ Export Expansion Task Force” last year, taking into account feedback from the field.
To begin with, the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries will actively collaborate in the logistics and marketing sectors to achieve the export target of US$16.7 billion for agricultural and fishery products as well as upstream and downstream industries this year.
In the future, major port hinterlands such as Busan Port and Pohang Port, along with logistics infrastructure, including overseas logistics centers operated by the Busan and the Ulsan Port Authority, will be jointly utilized. Efforts will also be directed towards organizing events like K-Food Fairs and establishing overseas antenna shops.
Furthermore, cooperation frameworks for trade and environmental response will be established with relevant ministries such as the Ministry of Trade, Industry, and Energy. Collaborative endeavors will also extend to the Ministry of Culture, Sports, and Tourism to promote Hallyu-based marketing and jointly manage overseas promotional offices. Additionally, collaborative measures are planned with the Korean Intellectual Property Office to address the eradication of counterfeit K-Food products.
This initiative focuses on enhancing the global competitiveness of K-Food+. It emphasizes strengthening the capabilities of export organizations and companies, restructuring export support systems, and simultaneously establishing foundations for the growth of promising export enterprises through initiatives like investment activation. Plans also include diversifying and expanding the export territory of K-Food+ in various directions.