South Korea Sets Annual Food Export Target At US$21 Bln For 2030

SEOUL, Dec 23 (Bernama-Yonhap) -- South Korea aims to annually export US$21 billion worth of foodstuffs by 2030 on the back of the soaring global popularity of Korean culture, the agriculture ministry said Tuesday, vowing utmost efforts to support food exports, Yonhap News Agency reported.

The export target was unveiled at the K-food global vision declaration ceremony held to discuss ways to develop the food sector as a strategic industry for the country's exports.

From January to November, food exports reached a record high of $12.34 billion, according to the Ministry of Agriculture, Food and Rural Affairs.

The ministry said it will use all available resources to promote food exports, noting that it has devised five strategies, including developing the attractive authenticity of Korean food products, creating a business-friendly export environment and promoting Korean foods in connection with cultural content and tourism.

In detail, the government plans to designate strategic export items for different markets, such as barbecue sauce products for the United States, high-value health foods for Europe and Halal-certified beef for the Middle East.

It will also open a culinary school focusing on Korean cuisine in the country and cooperate with prestigious culinary schools overseas, including the Culinary Institute of America and Le Cordon Bleu, to open K-food classes at such institutes.

In addition, the government will establish a one-stop support centre for food exporters to better analyse and respond to non-tariff trade barriers in the sector, while doubling export vouchers for food companies to 72 billion won ($48.5 million) next year.

The ministry said it will also create various cultural content on Korean cuisine and promote K-food through international cultural and sports festivals, while inventing tourism programmes with a focus on food to turn foreign visitors into advocates of Korean food.

In a congratulatory message for Tuesday's ceremony, President Lee Jae Myung said "the government will provide firm support to help K-food grow into a strategic export industry," according to the ministry.

-- BERNAMA-YONHAP