Gourmands and global businesses alike gathered at
Seoul Food 2017 in a four-day event
packed with food tasting exhibitions,
business meetings and cooking contests
It was an exciting week for culinary
connoisseurs, as Seoul Food 2017
kicked off from May 16 to 19 in the
city of Goyang, Gyeonggi-do. Seoul
Food is Korea’s largest international food
industry exhibition and the fourth-largest
of its kind in Asia. The four-day event
celebrated its 35th anniversary, satisfying
the palate of over 50,000 participants
from around the world. The large turnout
was testament to the growing popularity
of Asian and Korean cuisine.
According to the country’s Ministry of
Agriculture, Food and Rural Affairs, the
global food industry is growing annually
by 2 percent, and is expected to reach
USD 7.3 trillion in 2019, a significant
increase from USD 6.3 trillion in 2016.
And behind this rapid growth lies the
Korean food market. Korean food exports
have increased rapidly since 2006 at an
annual average rate of 10 percent to about
USD 4.1 billion in 2015.
In a bid to help Korean food companies
enter the global market and further boost
demand, Seoul Food 2017 provided an
opportunity for 660 overseas buyers and
740 promising Korean companies to
establish close network through its oneon-
one business meetings, showcases and
seminars. Visitors had the chance to witness
the latest technological developments
in the food industry,
as well as taste
some of the hottest food products in Korea.
New to this year’s event was the Global
Food Trend & Tech Conference, which
offered participants in-depth analyses and
market strategies. Most notably, the conference
took a closer look at food innovation
and the impact of early start ups on
the food industry, the future of the industry
and recent market trends in Asia. “The
convergence of pharmaceuticals and
biotechnology has given birth to a wide
range of functional foods, and the surging
single-person households have caused
rapid changes in the food market,” said
KOTRA’s CEO and President Jae Hong
Kim during his opening remarks. “All of
these factors are transforming the food
industry into high value-added one.”
The Startup Assistance Seminar was of particular interest to SMEs, with some of Korea’s most successful startups in the food industry presenting on their experience. One of the presenters was Sophie Kim, founder and CEO of Market Kurly, a website that delivers high-quality and eco-friendly ingredients to consumers. Since its launch in 2015, the company’s has recorded KRW 3 billion (USD 2.7 million) in sales every month. The key to Market Kurly’s success isn’t just its fresh and organic products or fast delivery service, but also the company’s ability to take full advantage of mobile technology, big data and social media. “About 80 percent of our customers place their order through their cellphones and we’re also utilizing
big data to predict the purchasing patterns
of our customers, said Kim
Turnout was also high at the Seoul
Food Awards, held on the sidelines of
Seoul Food 2017. Five food items were
selected each in the three categories of
‘Healing’, ‘Innovation’ and ‘Dessert’.
Award winners were granted diverse benefits,
including certificates, public relation
support, on-site special exhibitions and
exclusive meetings with buyers. Equally
popular was the Seoul Food Culinary
Challenge, a cooking contest where
renowned chefs and students and graduates
from culinary schools competed
head-to-head.
“We prepared a variety of programs
that are more diverse than ever so that
more Korean food companies can make
inroads into the global market,” said Kim
Doo-young, executive vice president for
Strategic Marketing at KOTRA. He also
expressed his future hopes for greater participation and increased exports of Korean food suppliers.
On the occasion of Seoul Food 2017, KOTRA Express sat down
with one foreign buyer, Mr. Paul J Kim, Director of International
Operation & Strategic Sourcing at Purity Wholesale Grocers, Inc.
Here’s what he had to say about the event.
Purity Wholesale Grocers was founded in 1982 in Boca Raton, Florida by Jeff Levitetz. We distribute grocery products and general merchandise in the United States. We service retail chains like Stater Brothers, Walmart, Safeway and Lucky Supermarkets. We’re a market leader in diverting distribution, which essentially is a different angle of distribution that is much more cost effective for the retailer.
This is my third time participating at Seoul Food. I’m looking to see both innovative and high-quality products on the international
market. I’m currently in the works of
talking with a cosmetics company
and a seafood company.
We mostly distribute Korean products
to stores in the west coast and the east
coast. Although it is a bit difficult to promote
Korean products on a wide scale in
the United States, they are very promising..
The Asian food industry is definitely
growing and you can see new trends
emerging due to the influence of Korean
culture, like K-pop. Especially in the
United States, which is a multicultural
country, Korean dramas and songs have
helped promote Korea’s products.
I think each manufacturer should come to the United States to spend a lot of time learning about the American market so they can further develop their products. A lot of companies just want to sell the product, but they should instead spend more time on market research because the Korean and American market are very different. They should also conduct product comparisons with similar items that are already in the market. I highly advise Korean companies to see for themselves what is going on in the U.S. food industry.
