Invest KOREA

According to Yonhap News,

Korea Trade and Investment Promotion Agency (abbr. KOTRA) announced the opening of “Seoul Food”, an online version of the largest food expo in Korea, on May 24, inviting more than 800 global buyers to virtual business meetings.

At the video conference, which started the very next day from the opening, 500 local businesses in Korea and nearly 800 global food suppliers and buyers convened to meet with business partners.

KOTRA is planning to step in the deal flow, helping sift and approach potential buyers highly predicted to reach a deal and invite them to Seoul Food 2020, set to open in September. According to KOTRA, Korea’s agricultural export sales for the first four months of this year recorded USD 2.3 billion, 3.8 percent up from the same period last year. With a shift in agro-industry trend where an increasing number of people tend to turn to healthy diet particularly since the outbreak of the health crisis this spring, Korean foods such as Kimchi or Ramen have gained more than 30 percent of export sales, along with food supplements and easy freezer meals, which started to turn for the better.

In response to the rising popularity of K-foods, KOTRA overhauled its online trade marketing platform, BuyKOREA, whereas developing an interactive computing system that enables web searching and video conferencing.

The latest online food expo boasts of the largest scale of all types of non-contact marketing projects that KOTRA has pushed for.

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Source: Yonhap News (May 24, 2020)