Profitable Korean Cuisine, Demonstrated with Data... Sangsi-Kyunghee University MOU

Private-Led Sustainable Korean Food Industrialization
Corporate Participation in Korean Food Industrialization Promotion Organization
‘Korean Food Industry Governance’ to Be Established in the Second Half of the Year

The Korea Chamber of Commerce and Industry (KCCI) is partnering with university research institutes to establish foundational data for the industrialization of Korean cuisine.

On the 6th, KCCI signed a business agreement with Kyung Hee University's H&T Analytics Center at the Sangyohui Building in Jung-gu, Seoul. This agreement was made with the purpose of creating objective, data-driven evidence and exploring private-sector-led strategies for the industrialization of Korean cuisine.

The two organizations will collaborate in areas including ▲establishing objective evidence to reflect related implementation plans such as domestic and international market research and analysis into national policies ▲building governance for private-sector-led Korean cuisine industrialization ▲responding to current issues through sharing related policies and information. In addition to researching cooperation methods and expected effects among companies expanding overseas and developing indicators to measure the degree of Korean cuisine industrialization, they plan to examine structural social issues such as the low survival rate of domestic foodservice self-employed businesses from an industrial perspective.

They will also promote the establishment of private-sector-led governance for the Korean cuisine industry. This governance will be composed of companies across the value chain including large food manufacturing corporations, overseas distribution companies, foodservice franchises, and food tech companies, as well as academic experts and investors. The goal is to become a private platform that discovers government proposal tasks, facilitates cooperation among companies, and performs educational functions.

Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, speaking at a Korean Food Industrialization meeting held last August at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, attended by university professors and other experts. [Image source: Screenshot from Korea Chamber of Commerce and Industry YouTube]

Last year, KCCI conducted a study on the economic ripple effects of the Korean cuisine industry together with Kyung Hee University's H&T Analytics Center. The analysis showed that even considering only the effects of food tourism and agricultural food exports, the Korean cuisine industry has an economic ripple effect of approximately 23 trillion won annually, which is equivalent to selling 520,000 cars. Considering future growth potential, an even greater ripple effect is expected, thereby presenting a basis for the industrialization of Korean cuisine as a national development task.

Professor Choi Kyu-wan, head of Kyung Hee University's H&T Analytics Center, said, “KCCI’s promotion of Korean cuisine industrialization is expected to make a significant contribution to establishing Korean cuisine as a representative food enjoyed worldwide,” adding, “It will become a new driving force for national growth.”

Jo Young-jun, Director of Sustainable Management at KCCI, stated, “The industrialization of Korean cuisine cannot be achieved by the efforts of any single company or institution alone,” and added, “KCCI is ready to fully support as a private-sector driving force for Korean cuisine industrialization, so we ask for the active interest and participation of related companies and institutions.”

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