$19 Million Export Contracts for Tteokbokki, Kimchi, and More at 'K-Food+ Export Meeting'

2023 K-Food+ Buyer Invitation Export Consultation
Held Normally for the First Time in 4 Years Since COVID-19
On-site Contracts Increased by 533% Compared to Last Year

Through the '2023 Buyer Invitation Export Consultation (BKF)' held from the 19th to the 21st, export contracts worth $19 million for Korean agricultural and food products such as Tteokbokki and Kimchi were concluded.

The Ministry of Agriculture, Food and Rural Affairs announced on the 24th that at the BKF held at the aT Center in Yangjae-dong, Seoul, agricultural and food products secured on-site contracts worth $10 million from 21 cases including beverages, fruits, Tteokbokki, and Kimchi, while upstream and downstream industries signed contracts worth $9 million from 10 cases including crop nutrients and eco-friendly disinfectants. This represents a 533% increase compared to last year ($3 million).

This consultation, held normally for the first time in four years since COVID-19, was attended by 456 companies from 40 countries worldwide (136 overseas buyers and 320 domestic exporters) to expand exports of agricultural and food products and related industries. A total of 2,042 one-on-one export consultations worth $151 million were conducted, resulting in actual contracts worth $19 million.

An official from the Ministry of Agriculture, Food and Rural Affairs explained, "The increase in performance is attributed to inviting powerful overseas large-scale distributors such as the US UNFI and SAMS F&B as direct supply vendors, participation of export companies from upstream and downstream industries such as agricultural materials, pre-arranged online meetings between companies, and a 32% increase in the number of consultations compared to the previous year." They added, "In the selection process of participating companies, comprehensive prior consideration was given to whether they held certifications such as vegan (vegetarian) and halal (foods produced and processed according to Islamic law), and whether export packaging was pre-produced. As a result, overseas buyers attending the consultation evaluated that the product completeness and preparation level of export companies were significantly improved compared to previous export consultations."

In addition to one-on-one export consultations, this export consultation event operated ▲exhibition halls for major items of participating companies ▲promotion halls for integrated export organizations (such as strawberries and paprika) ▲Korean beef promotion hall ▲promotion halls for upstream and downstream industries including fertilizers, veterinary drugs, and food tech ▲metaverse agricultural and food promotion hall ▲agricultural and food export information (KATI) promotion hall, and also provided consulting on customs and halal certification.

Jung Hang-keun, Minister of Agriculture, Food and Rural Affairs, said, "This event is a great opportunity for our export companies to meet influential overseas food buyers in one place," and added, "In addition to the export consultation, we will actively promote K-Food worldwide through various methods such as linking with K-Concerts and participating in international food exhibitions."

Overview of the 2023 Buyer Invitation Export Consultation Event Venue.

This content was produced with the assistance of AI translation services.