Korean High-Value Processed Food Buyers Delegation to Fancy Food Show Summer, June 12-14, 2022, Javits Center, New York City

ATO Seoul led a group of 11 buyers from 8 Korean retailers and food import distribution companies to the Fancy Food Show Summer 2022 held in Javits Center, New York City. The delegation conducted 202 business meetings with American suppliers on the show floor, resulting in $230,000 of on-site sales and $10.3 million of potential 12-month sales for the American suppliers. The delegation also visited numerous retail outlets in and around New York City during the trip and developed hands-on knowledge and experience about on-going product trends in the American food market. ATO Seoul will continue to invest in helping Korean buyers identify new business opportunities with American suppliers.

ATO Seoul Organizes U.S. Pavilion at Seoul Food & Hotel Show 2022, KINTEX, June 7-10, 2022

ATO successfully organized a U.S. pavilion at the 2022 Seoul Food & Hotel Show in Seoul, Korea from June 7-10, 2022. Twenty-three U.S. companies and trade associations joined the pavilion, showcasing a wide range of products, including nuts, cherries, condiments, sauce, dairy products, nutritional snack, candies, chips, popcorn, alcohol beverages, organic and natural ingredients, and health supplements.

ATO organized a full program for U.S. exhibitors, including a seminar, market tour, and networking event to hep participants better understand the market and develop connections with business partners in Korea.

The U.S.-Korea Free Trade Agreement (KORUS FTA) has eliminated tariffs on over two-thirds of U.S. food and agricultural products. In 2021, the United States exported a record $9.4 billion in food and agricultural products to Korea, 54 percent higher than in 2012 when the KORUS FTA was signed. The United States also imported a record $1.2 billion in Korean food and agricultural products, a 162 percent increase from 2012.

Craft Brewing Ingredient Buyers Trade Mission to the 2022 Craft Brewers Conference & BrewExpo America (Minneapolis, MN - May 2022)

ATO Seoul hosted a delegation of Korean brewers to the Craft Brewers Conference & BrewExpo America in Minneapolis, MN held in May 2022 to help U.S. suppliers expand exports to South Korea. The delegation consisted of two importers, six brewers, and four people from the beer industry. The program educated Korean brewers about the quality, value, and diversity of American brewing ingredients through field trips and meetings with local American breweries. The activity generated over 118 serious business contacts between Korean buyers and American suppliers.  The activity generated $1,007,962 sales of U.S. hop pellets and hop extracts. It is expected to generate an additional $242,181 in sales of U.S. hops, craft puree, fruit concentrate, yeast, and malt.