Korea Nurtures K-Food Plus into One of Top 10 Strategic 

Export Industries to Lead Global Market

Sejong, 7 March 2024 — On 20 February, the Ministry of Agriculture, Food and Rural Affairs 

announced the “Strategic Plan for K-Food Plus Export Innovation” to respond to a rapidly changing 

global trend and trade environment and to nurture K-Food Plus into a strategic export industry 

leading the global market.

     * K-Food Plus (K-Food+) refers to agri-food products combined with products from upstream and downstream industries 

       (e.g. smart farms, agricultural equipment, animal feed including pet food, veterinary medicine, etc.). Agri-food products means processed 

       and non-processed food, excluding aquatic food products.

In 2023, the ministry made efforts to grow agri-food products as well as upstream and downstream 

industries into a strategic export industry. As a result, the export value of K-Food Plus reached 

a record high in that year despite difficulties posed by challenging external conditions. We also saw 

the possibility that K-Food Plus can grow into a strategic export industry¹⁾ with meaningful outcomes 

achieved. Specifically, (a) the export of agri-food products continued to grow for eight consecutive 

years; (b) the foundation was established for export of products from upstream and downstream 

industries, for instance, through large-scale contracts winning for smart farm projects²⁾; 

and (c) the door was opened for Korean companies to enter halal markets through 

the 2023 ROK-Indonesia summit talk. 

    1) K-Food Plus exports recorded USD 12.14 billion in 2023, making K-Food Plus the 12th largest export industry next to 

       the biotechnology industry (exports worth USD 13.4 billion).

    2) Major contracts awarded to Korean smart-farm companies: a USD 20 million project in Kuwait to NextOn, a USD 4.1 million 

       project in the UAE to Plenty Farm, and a USD 1.87 million project in Kazakhstan to Cellpot.

Note) Export records in 2023: USD 12.14 billion in K-Food Plus (up by 2.6% from the previous year), and USD 12.16 billion in agri-food 

         and aquatic food products (up by 1.0% from the previous year).

Under the strategic plan, the ministry aims for K-Food Plus exports of USD 13.5 billion for this year 

and USD 23 billion by 2027, with the vision of making K-Food Plus one of Korea’s top 10 strategic 

export industries. The strategic plan was developed, based on input from people in the industry 

as well as subject matters discussed during the operation of the K-Food Plus Export Expansion 

Promotion Headquarters last year.  

The ministry is also working hard to carry out collaborative projects with other ministries, based 

on results of the Emergency Ministerial Meeting on Economic Affairs held on 14 February, 

and will play a leading role in breaking down boundaries among ministries.

To begin with, the agriculture ministry will work closely with the Ministry of Oceans and Fisheries 

in the areas of logistics and marketing to achieve an export target of USD 16.7 billion in agri-food 

and aquatic food products as well as in the upstream and downstream industries (USD 10 billion 

in agri-food products, USD 3.5 billion in the upstream and downstream industries, and USD 3.2 billion 

in aquatic food products). The two ministries will join hands in utilizing logistics infrastructure, 

including the hinterlands of major ports (e.g. the port of Busan, the port of Pohang, etc.) and overseas 

logistics centers of the Busan Port Authority and the Ulsan Port Authority. The two sides will also 

collaborate in holding a K-Food fair and opening a testing and promotion shop overseas.

Also, the agriculture ministry will build an inter-ministerial cooperation system to respond to changes 

in the global trade environment with the Ministry of Trade, Industry and Energy and other related 

ministries and agencies. At the same time, the ministry will collaborate with the Ministry of Culture, 

Sports and Tourism in carrying out the Korean wave-based marketing and opening a promotion 

center overseas. The ministry will also work together with the Korean Intellectual Property Office 

to make joint response to eradicate counterfeit K-Food products.

The 2024 strategic plan is focused on enhancing the global competitiveness of the K-Food Plus 

industry. To this end, the ministry will improve the export support system, with emphasis on strengthening 

the capabilities of export support organizations and export companies; lay the foundation for growth 

of promising export companies through investment expansion; and will expand markets for 

K-Food Plus exports on various fronts.

Minister SONG Miryung of Agriculture, Food and Rural Affairs said: “We will make all our policy 

efforts and strengthen private-public and inter-ministerial cooperation to ensure that this year’s export 

target of K-Food Plus can be reached and K-Food Plus can grow into a flagship export industry over 

the medium- and long-term, on the wings of the K-Food boom and the recovery in global trade volumes.”