[The Editors' Verdict] The Path Forward for 'Food Tech' as an Emerging Innovation Industry

'Food Tech' in Early Stages Domestically
Moves to Foster Innovation Clusters
Hoping to Become a Growth Industry with More Attention

Kwangho Lee, Head of Distribution Economy Department.

"Let me introduce a delicious and simple kimchi jjigae recipe. First, soak aged kimchi in cold water to wash away impurities, then cut it into appropriate sizes and prepare. In a pot, add 1 tablespoon of red pepper powder, 1 tablespoon of gochujang, 1 tablespoon of soy sauce, 1 teaspoon of minced garlic, and a pinch of salt, mixing while gradually adding some kimchi juice. Add 150g of pork and a little water, then boil over medium heat. After that, add tofu, onion, and Cheongyang chili peppers and continue boiling. Adjust the seasoning with salt and finish with sesame oil. Enjoy your cooking time."

Last weekend, when it was raining, thinking of kimchi jjigae, I asked ChatGPT for the recipe and received this response. It explains in a way that even cooking novices (people who do not know how to cook) can easily follow without confusion.

The emergence of ChatGPT is raising expectations for ‘Food Tech’ in the food industry. Food Tech, a compound word of Food and Technology, refers to the field where the food industry and information communication technology are combined.

From large corporations to startups, many companies expect to simplify or automate processes such as ingredient production and development, distribution, cooking, sales, delivery, and post-processing through AI.

Although still in the early stages domestically, many food companies overseas are utilizing ChatGPT. Instacart in the United States is a grocery shopping application that, based on data of 1.5 million products sold at 75,000 grocery stores, recommends desired foods and ingredients when customers ask about food or recipes. Using the shopping function, proxy shopping at marts or convenience stores is also possible.

Using the shopping function, proxy shopping at marts or convenience stores is also possible. Shopify, Canada’s largest e-commerce platform company, utilizes ChatGPT’s application programming interface (API) to scan millions of products including food, helping customers find desired products or recommending new ones.

Also, IWCB, an Italian wine and food marketing company, started a personal sommelier service using ChatGPT that recommends wines and foods matching consumers’ tastes by utilizing previously consumed wines and past recommendation lists. These companies connect voluntarily incoming customers to loyal customers through pioneering investments and innovations. In fact, IWCB is reported to have rapidly increased visitors and service subscribers since starting the personal sommelier service.

The Food Tech industry is regarded as a market with high growth potential. According to a report by the Korea Rural Economic Institute, the global Food Tech market is expected to grow at an annual average rate of 6?8%, increasing from $211 billion (approximately 272.19 trillion KRW) in 2017 to $360 billion (approximately 464.4 trillion KRW) by 2025. It is interpreted as a new axis for the food and dining industry amid high minimum wages and labor shortages.

The government also views Food Tech as a next-generation food industry and plans to designate and foster a ‘Food Tech Innovation Cluster’ starting next year. The plan is to gather small and medium food companies, research institutes, and local universities into the cluster to create synergy effects. With the government’s innovation policy drive, it is hoped that the Food Tech industry will rapidly grow into a new growth industry, and that large, medium, and small food companies, startups, and university students will take more interest and envision a more innovative future.

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