(SEJONG=NEWSIS) The Ministry of Agriculture, Food and Rural Affairs (MAFRA) announced February 3 that it signed a memorandum of understanding (MOU) for business cooperation with a Chinese refrigeration logistics association on February 2 to encourage more Korean agricultural goods producers to enter the Chinese market and to promote the investment of Chinese logistics and food companies in Korea’s National Food Cluster.

The Chinese refrigeration logistics association is a leading logistics organization for agricultural goods with more than 600 member companies from 23 provinces. The association will prove helpful when exporting Korean agricultural goods to China, as most of the member companies are agricultural goods processing companies and companies expanding their business scope to trade and investment.

"The free trade agreement between Korea and China has drawn the two countries closer than ever and many Chinese companies are visiting Korea to witness the industrial sites of Korea. As Chinese consumers consider Korean agricultural produce to be safe and of good quality, market demand will rise," said an official at the Chinese refrigeration logistics association.

"Until recently, Korean food companies faced difficulties securing a stable logistics and distribution network in the Chinese market. However, the MOU will support Korean companies as they make inroads into the Chinese market. We hope to expand the scope of cooperation with China by promoting joint research on technology development for the refrigeration, packaging and distribution of agricultural products,” said a MAFRA official.

Exports of Korean agricultural goods to China recorded USD 1.3 billion (KRW 1.42 trillion) in 2014, which account for 16 percent of the total exports of USD 8.3 billion.

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