Korean Importer Support > Highlights
Korean Food Ingredients Buyesr Delegation to IFT Food Expo, Chicago, IL, July 10-13, 2022
ATO Seoul organized a delegation of Korean food ingredient buyers to the Institute of Food Technologists (IFT) Annual Event and Food Expo, held in Chicago, Illinois. The delegation consisted of 17 buyers from 8 food processing ingredient import distribution companies. IFT Food Expo, hosted by the Institute of Food Technologists (IFT), is one of industry’s largest trade show exhibiting the latest products and trends in the food
ingredient, food safety & quality, technology, equipment, processing, and packaging sector. Through the show, Korean buyers were able to improve their understanding on US brands, food trends, products, and network with industry stakeholders. In addition, ATO arranged field trips to retail markets and food processors. As a result of this reverse trade mission, the participants successfully conducted over 159 business meetings with U.S. exhibitors. According to the survey conducted after the mission, six companies signed contracts to import $5.1 million U.S. products. Also, the six companies estimate additional sales of $10.1 million within the next 12 months.
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.
Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921