Gyeongbuk Province Has 36 Agrifood Export Companies with Over $1 Billion in Exports and 83 Companies with Over 10 Billion Won in Sales

Analysis of 2,643 Companies: Achievements of the Processed Industry Transformation

Gyeongbuk Province conducted a comprehensive survey of 2,643 local agricultural food manufacturing and processing companies and confirmed that they achieved sales of 4.5498 trillion won last year.

This strong performance is attributed to the results of the agricultural transformation and agri-food processing industry transformation initiatives that have been promoted since last year, aiming to overcome difficult conditions such as high production costs and to increase the added value of K-Gyeongbuk Food.

Lee Cheolwoo, Governor of Gyeongbuk Province (second from left), is attentively listening to a product explanation at the Agro-Food Industry Expo.

Over the past year, Gyeongbuk Province has focused its efforts on building a production base by fostering agri-food processing companies, establishing stable food raw material complexes, and linking agriculture with businesses. The province has also worked on discovering promising food products, introducing smart hygiene management systems, accelerating the convergence of the sixth industrialization, enhancing product value, and expanding the market through export promotion.

In 2023, the sales of food manufacturing and processing companies in the province reached 4.5498 trillion won, an increase of 12.4% compared to the previous year, while exports rose by 15% to 295.6 billion won.

By category, functional processed foods saw a significant increase of 47%, bakery products 46.5%, and alcoholic beverages 43.4%. There was steady growth across all food sectors, including noodles, confectionery, and beverages. The number of companies with sales exceeding 10 billion won reached 83, an increase of 37 compared to 2020, and is expected to reach 200 by 2030.

The number of companies exporting more than $100,000 increased from 68 in 2020 to 76 in 2022 and 87 last year. Companies exporting over $1 million also rose from 21 in 2020 to 27 in 2022 and 36 last year, showing an upward trend.

The use of domestically produced raw materials was 3.17 million tons, accounting for 96.4% of the total 3.29 million tons of raw materials used, a 17% increase from the previous year. The use of raw materials produced within the province was 1.61 million tons, representing 49% of the total, an 8% increase from the previous year.

This year, Gyeongbuk Province increased its support for the agri-food processing industry from 3 billion won to 4 billion won to expand support for promising companies. Next year, the province plans to establish a differentiated support system according to company size and focus administrative efforts on attracting major companies such as Kim Changsu Whisky Distillery and Naracella, which have secured business sites in the province.

In addition, to promote domestic and international sales of food companies, the province plans to expand opportunities for overseas advancement through online entry into shopping malls such as Saiso, support for participation in food exhibitions, entry into major distribution channels, as well as export consultation meetings and overseas promotional events.

Gyeongbuk Governor Lee Cheolwoo said, "Through the transformation of the processing industry, we have achieved tangible results with aggressive support to enhance the competitiveness of K-Gyeongbuk Food," adding, "We will spare no effort to support Gyeongbuk agri-food companies so they can establish themselves not only in Korea but also globally."

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