Korean Importer Support > Highlights
Korean Food Ingredient Buyers Delegation to IFT Food Expo, June 26-28, 2017
ATO Seoul brought a delegation of four Korean food ingredients buyers to the IFT 2017, June 26-28. The mission members looked for food ingredients for processing and new-to-market food products in U.S. grocery stores. The Korean buyers generated face-to-face contacts with a large number of U.S. suppliers and products on the show floor. They also visited several local grocery stores during the mission. ATO Seoul supported the buyers’ round trip air fares and costs of a rented van for Korean buyers’ market tour. The mission members expanded their understanding about the current market trends as well as networked with contacts in the United States. A follow-up survey estimated that the activity would generate $1.5 million of potential sales within a year from this trip.
Korean Retail Food Buyers Delegation to Summer Fancy Food Show, June 24-30, 2017
ATO Seoul brought a delegation of five Korean retail food buyers to the Summer Fancy Food Show 2017, June 25 – 27. It is notable that the delegation included buyers from three of the top Korean retail store chains: E Mart, Lotte Mart, and Seven Eleven Korea. The CSSF activity allowed the Korean buyers to generate face-to-face contacts with a large number of American suppliers of high-value processed food and beverage products on the show floor. In addition, educational fieldtrips to local food markets and food processing facilities provided during the trip expanded the buyers’ understanding about food supply chain as well as current food market trends in the United States. A follow-up survey administered right after the trip indicated that the activity would generate $2 million of potential new sales to American suppliers within the next 12 months.
U.S. Food Products Showcased at Seoul Food & Hotel Show 2017, KINTEX, May 16-19, 2017
About 50 American companies and trade associations comprising the largest pavilion within the International Hall represented a wide range of products in Korea’s biggest international food and agriculture show, Seoul Food & Hotel 2017. It is clear that renewed enthusiasm for agricultural trade between the United States and Korea is due in large part to the Korea--U.S. Free Trade agreement (KORUS FTA) implemented on March 15, 2012. In its fifth year of implementation, KORUS FTA has eliminated or reduced duties on many American food products leading to U.S. exports of high-value, consumer oriented products to Korea reaching a record $3.7 billion. U.S. exhibitors represented a wide array of products including snack foods, beverage products, dairy products, organic foods, cooking oils, sauces, and desserts. About half of the exhibitors responded to ATO’s survey and they reported making many quality contacts and on-site sales of $6.1 million and a preliminary estimate of expected sales during the next 12 months totaling $31.2 million. For more information on export opportunities to our 5th largest market under KORUS FTA please visit ATO Seoul Home Page (KORUS FTA).