aT holds annual ‘BUY KOREAN FOOD Autumn 2012’event, providing a platform for companies to meet buyers from 26 countries
aT hosted its annual convention with 135 buyers from 26 countries meeting K-Food exporters for one-to-one business consultations on Oct. 9. This year, more than 36 percent of the buyers were from China, revealing the growing opportunities in the Chinese market. The buyers included major retail companies like Ito-Yokado, RT-Mart, and 7-Eleven, as well as 50 new buyers from the Middle East, Europe, and South America where interest in Korean food is burgeoning. At their individual booths, buyers were eager to find out about the fresh and processed products offered by 170 Korean exporters.
Feedback from some of the buyers at the convention affirmed the excellence and popularity of Korean food. “There is a widespread trust in Korean food by consumers in Vietnam. It is safe, hygienic and its quality is always guaranteed. I came here today to diversify and explore new products to import,” said the national sales director of Dai Thaun Corporation from Vietnam, who has been importing assorted ice cream products from Binggrae for the past seven years. During the interview, she also expressed her special liking for Korean dramas, which experienced a boom in Vietnam since the premiere of Dae Jang Geum. She revealed that Korean culture acts as one of the main influences for Vietnamese consumers in purchasing Korean products.
Barry Li, sales & marketing manager at KOFCO Enterprise Co. (Hong Kong) commented likewise, “I have been trading with a number of Korean companies for about 15 years. Sales have always been on a steady increase, 10 to 15 percent annually.” He added that he came to the convention to branch out into other food products. “I am interested in companies selling buckwheat noodles, frozen items, and traditional confectionaries.”
Jonathan Son, manager of sales and operations for Dole, one of the world’s largest producers of fresh fruits and vegetables, also attended the convention. Dole established contact with small and medium-sized companies selling seaweed and pears.
In addition to quality and popularity, Korean food was also well-liked by the buyers for its price-competitiveness. “Korean fisheries are affordable and excellent in quality. They are usually half the price of fisheries in Japan,” said Ryuichi Kato, deputy manager of the trading and development division of the Nippon Ham Group of Japan.
Within the convention was a special booth presenting ginseng products as well as “Hot New Items” booths showcasing famous Korean foods. Ginseng products drew much attention from Chinese buyers in light of the amendment in the classification of some ginseng products from medical products to food. When implemented, it is expected to increase the volume of trade due to an ease in customs restrictions and a lower tariff rate. In other booths, ‘Hot’products were promoted such as kimchi, confectionaries, beverages, yogurt, and processed food. A variety of fresh items like pears and peppers were also among the items presented that buyers were keen to import.
At the convention, exporters also included restaurants seeking to sell their franchises to the world. Leading brands in barbecued chicken and pork, Korean barbecue, and New Mapo Galmaegi were such restaurants invited to promote their brands. Several companies said in interviews that their ventures into foreign markets were successful because of systematic and efficient distribution with the localization of recipes. Yoon, sales director from New Mapo Galmaegi said, “When branching out overseas, the key is to ensure the quality of the food products. That’s why we took time to investigate and choose our suppliers very carefully.”
As stated by an aT official, BKB 2012 provided an opportunity to boost Korean agricultural and fisheries exports and it is also expected to contribute to spreading the K-Food wave to the world.