'K-Food Sales Roadshow' in Philippines, Australia, Mexico, etc... Tteokbokki $30 Million Supply MOU

The Ministry of Agriculture, Food and Rural Affairs announced on the 12th that it achieved results by conducting sales roadshows in priority diversification strategy countries such as the Philippines, Australia, and Mexico from the 15th of last month to the 8th of this month, signing a memorandum of understanding (MOU) to supply $30 million worth of Tteokbokki.

According to the Ministry, through this sales roadshow, it achieved approximately $22 million in business-to-business (B2B) export consultations and about $32 million in MOUs (over six years).

The sales roadshow is an export support event where B2B export consultations and excellent product evaluations are held targeting diversification strategy countries. Since 2017, the Ministry has selected export-leading companies to support market development through sales roadshows and customized product development for strategic countries to establish a stable agricultural and food export structure. This year, 44 export-leading companies were selected through a public contest, and sales roadshows were consecutively held in the 2024 priority diversification strategy countries: the Philippines, Australia, the United Kingdom, Mexico, and Kazakhstan.

In the Philippines, which opened this year’s sales roadshow, consumer interest in K-snacks such as ramen and Tteokbokki has increased due to the spread of Korean Wave culture including K-dramas and K-pop. During the event, export consultations for Korean Tteokbokki products were conducted, resulting in an MOU to supply $30 million worth of Korean Tteokbokki over the next six years.

According to the Ministry, a food buyer who attended the Australia sales roadshow stated, "Demand for products with high media exposure frequency and those reflecting Korea’s unique characteristics is expected to continue growing." In fact, at the Australian event, export contracts for Makgeolli worth $150,000 and an MOU for Kimchi exports worth $200,000 were signed.

At the Mexico sales roadshow, pear juice with a natural sweetness received a positive response, and in Kazakhstan, an increase in demand for ready-to-eat foods such as gimbap and lunch boxes was confirmed due to the expansion of Korean-style convenience store distribution networks. In the United Kingdom, where single-use plastic is restricted, soy milk and fruit and vegetable juices with paper straws instead of plastic straws gained popularity. Excellent products that confirmed export potential at the sales roadshow will be supported to settle in diversified markets by linking with offline promotions in the future.

Yang Ju-pil, Food Industry Policy Officer at the Ministry, said, "Through the sales roadshows in priority diversification strategy countries, we introduced various products from export-leading companies such as Tteokbokki, Makgeolli, and beverages to strategic countries, achieving a total of 345 B2B export consultations. We will continue to do our best to help our agricultural and food products enter new markets through public-private cooperation."

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