¡®New Southern Countries¡¯ Policies Boost Korean Agricultural Produce & Food Exports
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¡®New Southern Countries¡¯ Policies Boost Korean Agricultural Produce & Food Exports
¡®Region sees Korean agricultural produce and food exports surge to $128,700, year-on-year 8.4 percent rise in 1st 11 months of year

21(Mon), Dec, 2020




Minister Kim Hyeon-soo of the Ministry of Agriculture, Food and Rural Affairs.




Korean agricultural produce and food exports have achieved an all-time high mark despite rapid foreign market condition changes, caused by the COVID-19 pandemic.


The achievement is not only partly owed to rising concern over Korean food, promoted by hallyu (Korean Wave), all the rage across many parts of the world, but also to policies of the Ministry of Agriculture, Food and Rural Affairs (MAFRA), tailored to support marketing activities tailored to meet rapidly changing logistics changes such as on-line and non-contact channels.


Figures released by MAFRA on Dec. 9 showed that agricultural produce and food exports soared to $684,500 in the first eleven months of this year, up 6.8 percent over the same period a year before. The figure represented the best-ever achievement.


In particular, Korean agricultural produce and food exports earned popularity in the region of ¡°New Southern Countries.¡± The region saw Korean agricultural produce and food exports surge to $128,700 during the January-November period, an 8.4 percent rise over a year earlier. It was the first time the region ranked first, beating Japan.


The region also saw the portion of exports by region expand from 19.6 percent in 2018 to 20.3 percent last year and 20.4 percent this year.


A MAFRA official said exports to the New Southern Countries were on the rise, and the region has emerged as a next-generation core market, contributing to boosting Korean agricultural produce and food exports.


By country, Korean agricultural produce and food exports to Thailand, Indonesia, the Philippines, Singapore, Malaysia and India surged 9.8 percent, 4 percent, 33.1 percent, 19.8 percent, 23.1 percent and 34.7 percent, respectively.


MAFRA has shored up export foundation by building on-line and off-line marketing platforms with a focus on export items suiting the characteristics of each country of the region.


The ministry has also supported marketing activities corresponding to a shift of the logistics paradigm into an on-line, non-contact one, caused by the pandemic.


Rising demand in home replacement meals and delivery apps (O2O) linked to on-line platforms, caused by the pandemic, has contributed to boosting Korean agricultural produce and food exports.


Major agricultural produce and food exports led a strong showing of the Korean agricultural produce and food export industry.


Here is a look at major items whose exports have surged: Noodle exports jumping 16.1 percent to $138 million, Sauces soaring 15.8 percent to $54 million, modified dry milk products surging 43.9 percent to $24 million, kimchi products jumping 55.2 percent to $8 million, and citrus tea products soaring 160.3 percent to $6.4 million.




Korea has seen kimchi exports surge despite COVID-19 pandemic. (Photos: MAFRA)





Fresh agricultural produce exports were on the rise. Sweet persimmon exports, which made its debut in Vietnam, surged 45.4 percent, followed by grape exports with a growth rate of 34.5 percent, chicken exports (up 12.3 percent), and ginseng items (up 6.9 percent).


The ministry analyzed that the popularity of Korean dramas such as ¡°Itaewon Class,¡± a JTBC TV drama had served as opportunities to boost exports ranging from ginseng, Korea¡¯s represent health functional food, main food ingredients such as red pepper paste and kimchi, to instant, ready tteokbokki and ramyeon to fancy dessert fruits such as grapes and sweet persimmons.


For example, tteobokki exports jumped year-on-year 58 percent to $48 million in the first 11 months of the year.


The ministry said it is fortifying foundation for Korean farmers and SMEs to enter Vietnam Indonesia and Singapore by expanding on-line and off-line platforms connected with local large-sized distribution outlets and on-line purchases.


Regular Korean food sales pavilions have been set up, and marketing activities connected with local delivery apps and one-line e-commerce trade platforms have been conducted on top of diverse sales promotion events through social network services and influential bloggers.


The ministry sees that the Regional Comprehensive Economic Partnership (RCEP), a new free trade zone, will serve as an opportunity to boost Korean agricultural produce and food exports in the New Southern Countries.


It plans to implement stage-by-stage policies ranging from tariff-free items on the back of the effectuation of the new free trade deal to high-quality and premium agricultural produce and foods as well as ranging from the development of varies and marketing activities.




   
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