Record $27 Million MOUs Signed at 'K-Food Plus Buyer Export Consultation Meeting'

A record-breaking number of Memoranda of Understanding (MOUs) were signed at the 'K-Food Plus(+) Buyer Invitation Export Consultation Meeting,' the largest export consultation event in Korea for the agri-food and agricultural industry sectors.

The Ministry of Agriculture, Food and Rural Affairs announced on April 24 that MOUs worth 27 million dollars were signed at the 'K-Food+ Buyer Invitation Export Consultation Meeting (BKF+),' held at the aT Center in Yangjae-dong, Seoul, on April 15-16. This is the largest achievement since the event was first held in 2009.

A view of the 'K-Food+ Buyer Invitation Export Consultation (BKF+)' held on the 15th and 16th at the aT Center in Yangjae-dong, Seoul. Ministry of Agriculture, Food and Rural Affairs

원본보기 아이콘

This year's BKF+ brought together 143 buyers from 45 countries around the world, including six key Middle Eastern countries such as the United Arab Emirates (UAE) and Saudi Arabia, despite uncertain external conditions such as the Middle East war. These buyers engaged in one-on-one focused consultations with 279 domestic export companies. As a result, there were 2,124 consultations worth 268 million dollars in total, and MOUs worth 27 million dollars were signed.

In particular, this BKF+ focused on ‘fostering next-generation global K-Food by key markets,’ the core of the 'Global K-Food Export Expansion Strategy' announced in December last year. Export companies and buyers were matched based on strategic items for each region, such as kimchi for the United States and halal foods for ASEAN countries, leading to MOUs for these regional strategic products. For fresh agricultural products, a global strategic item, contracts totaling 5 million dollars were signed, laying a foundation for future exports.

A strawberry export company participating in BKF+ stated, "We have faced difficulties in developing export channels due to recent external instability, but through the consultations, we gained the opportunity to bid for in-flight meal supply to a Middle Eastern airline." The company added, "At this year's BKF+, many buyers representing not only large retail stores but also airlines, hotels, and restaurants attended, confirming the potential to pioneer new markets for Korean food ingredients."

On the day after BKF+, April 17, a food culture familiarization tour was organized for buyers to deepen their understanding of Korean food culture. Participating buyers visited a traditional liquor gallery in Insa-dong, where they listened to explanations from a traditional liquor sommelier and sampled various traditional liquors.

Kim Jonggu, Vice Minister of the Ministry of Agriculture, Food and Rural Affairs, stated, "The government will spare no effort in supporting the development of strategic items for K-Food's global expansion, discovering and connecting buyers to open and expand markets, and resolving export difficulties."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.