K-food shifts focus to US hypermarkets, Chinese 'punk wellness' trend
The government has reset its strategy in order to accomplish this year’s K-food exports goal of $16 billion, setting specific goals for different export markets. With exports having reached $8.25 billion as of the end of July, and instant noodles alone accounting for $1 billion of the total, the Ministry of Agriculture, Food and Rural Affairs said on Thursday that the second half of the year is…
In a bid to meet its K-food export target of $16 billion for the year, the government has revamped its strategy, focusing on specific export markets. As of July 31, K-food exports had already reached $8.25 billion, with instant noodles alone contributing $1 billion to the total.
Ministry of Agriculture, Food and Rural Affairs declared that the second half of the year represents "the last opportunity to determine whether the goal is accomplished or not." To achieve this, various measures are being undertaken, ranging from expanding exports and catering to foreign market demands to providing financial support for Korean exporters and swiftly addressing non-tariff barriers in export markets.
These updated export strategies were finalized at the third meeting of the private-public Korean food export committee held in Seoul. The meeting, attended by officials from eight ministries, representatives of major companies such as CJ, Samyang Foods, Daesang, and Nongshim, as well as officials from agencies responsible for agriculture, fresh produce exports, and tourism promotion, aimed to recalibrate the export measures to suit specific regions.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
