K-Food Plus fosters export companies that will lead the global market and develops K-Food+ into one of the top 10 export strategic industries.

(Source: Yonhap News TV)

The Ministry of Agriculture, Food and Rural Affairs  announced the “K-Food + Export Innovation Strategy” to respond to rapidly changing global trends and trade environments and to foster K-Food+ as an export strategic industry leading the global market .

As a result of promoting the export industrialization of agricultural products and forward and backward industries last year based on public-private cooperation, K-Food +  exports overcame difficult external conditions and achieved the highest performance ever. In addition, its potential as an export strategic industry has been confirmed through meaningful achievements such as ① growth in agricultural and food exports for 8 consecutive years, ② laying the foundation for exports in forward and backward industries such as receiving large orders for smart farms, and ③ laying the foundation for entry into the halal market through the Korea-Indonesia summit.

In this measure, the government set the vision of ‘ K-Food + to leap forward as one of the top 10 strategic export industries’  and set the export goal of K-Food + $13.5 billion this year and $23 billion by 2027. This measure  was prepared based on improvement tasks and field opinions discussed while operating the “K-Food + Export Expansion Promotion Headquarters” last year.

In addition, the Ministry of Agriculture, Food and Rural Affairs is actively promoting interagency collaboration projects based on the results of discussions at the Emergency Economic Ministers’ Meeting held on February 14. The Ministry of Agriculture, Food and Rural Affairs plans to play a leading role in breaking down barriers between ministries to promote exports.

First of all, the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries (hereinafter referred to as the Ministry of Oceans and Fisheries) will actively cooperate in the field of logistics and marketing to achieve this year’s export goal of $16.7 billion in agricultural, fisheries, food and forward and backward industries (100 for agricultural products, 35 for forward and backward industries, and 32 for fisheries). In the future, we will jointly utilize logistics infrastructure such as the hinterland complexes of major ports such as Busan Port and Pohang Port and the overseas joint logistics centers of the Busan and Ulsan Port Authorities, and jointly promote the K-Food Fair and overseas antenna shops.

In addition, a ‘trade environment response cooperation system’ has been established with related ministries such as the Ministry of Trade, Industry and Energy, and joint promotion of Korean Wave-based marketing and overseas promotional centers with the Ministry of Culture, Sports and Tourism, while joint cooperation with the Korean Intellectual Property Office to eradicate K-Food imitation products. We plan to respond.

This measure focuses on improving the global competitiveness of K-Food + . We plan to reorganize the export support system with a focus on strengthening the capabilities of export organizations and companies, lay the foundation for the growth of promising export companies, such as revitalizing investment, and  expand K-Food +  export territory in various ways. In this regard, a meeting was held at the aT Center (located in Yangjae-dong, Seoul) on the afternoon of Tuesday, February 20, presided  over by Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs.

 The meeting was attended by major export companies, related ministries, and heads of related organizations in order to share the government’s export strategy for 2024 with export companies and related organizations and discuss ways to revitalize the exports of export companies.

Minister of Agriculture, Food and Rural Affairs Song Mi-ryeong said, “We will use the K-Food craze and the recovery of global trade as an opportunity to achieve this year’s export target, and in the mid- to long-term, we will develop policy capabilities so that K-Food + can become a major export industry leading the global market.” “We will focus on strengthening public-private cooperation and cooperation between ministries,” he said.

Editor James

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