The Ministry of Agriculture, Food and Rural Affairs (MAFRA) has launched the Global NEXT K-Food Project to expand Korean food exports. This initiative builds on the ‘Global K-Food Export Strategy (A-B-C-D-E)’ announced in December 2023, specifically advancing the ‘A (Attractive Product Discovery and Development)’ component. The project aims to foster collaboration between large, medium-sized, and small enterprises, focusing on promising items such as functional foods and ready-to-eat meals. By integrating strategic marketing and new product development tailored to regional consumer preferences, the project seeks to achieve visible export results within the year.
A total of 145 companies have been selected to participate, with support tailored to their capabilities across three segments: Value-Up, Brand-Up, and Startup. The Value-Up segment encourages consortiums between large, medium, and small enterprises for joint regional marketing, while Brand-Up focuses on enhancing K-Food’s image through region-specific campaigns. The Startup segment supports the commercialization of next-generation K-Food products using domestic ingredients and technology. Participating companies design their own strategies, set performance indicators such as new product launches and export growth, and receive comprehensive support for B2B/B2C marketing and distribution.
Implementation involves selecting strategic products for each region through the K-Food Export Planning Group, which includes both public and private stakeholders. For example, in North America, the project targets premium restaurants with Korean alcoholic beverages, while in ASEAN countries, halal-certified products are promoted through pop-up stores. In Latin America, K-street food is introduced via food trucks and campus tasting events, and in other regions, functional and convenient foods are highlighted. The project is already underway, with the goal of strengthening the export structure and expanding the global presence of K-Food by the end of 2024.
Frequently asked questions include: What are the main support areas for participating companies? Companies receive assistance in marketing, product development, and distribution tailored to regional market characteristics. How are strategic products chosen? The K-Food Export Planning Group selects products based on regional consumer trends and distribution environments. What is the expected impact? The project aims to enhance export infrastructure, boost brand recognition, and foster sustainable growth for Korean food companies in global markets.
The Global NEXT K-Food Project is a strategic and well-structured initiative that leverages collaboration between government and industry to boost Korean food exports. By segmenting support based on company size and focusing on regional consumer trends, the project addresses both market entry and brand development challenges. The inclusion of new product development and tailored marketing increases the potential for sustained export growth. Overall, this policy is likely to enhance the global competitiveness and recognition of K-Food.