The South Korea government has said it will increase its agricultural exports from US$6.19bn in 2014 to US$7.7bn in 2015, according to Yonhap News.
The goal to increase agri-exports by 24.4 per cent will come as a result of targeting China, Southeast Asia and Halal food markets, said Lee Ju-myeung, director of the food division of theKorean Ministry of Agriculture, Food and Rural Affairs.
“The global farm and food market stands at US$5.7trn annually, exceeding the market size of automobiles,” Lee told Yonhap News. “Without exports, South Korea’s farming sector can collapse, while making headway abroad can turn farm products into future growth engines.”
Of particular focus is building Korean pear exports in growing markets, such as Brazil and Argentina, as well as increasing exports of Halal food to markets such as Malaysia, Indonesia and the Middle East.
Lee said the free trade agreement signed with China last year will aid efforts to increase Korean food exports to the People’s Republic, concentrating on supplying department stores in Beijing, Shanghai, Shenzhen and Shandong.
