Korea’s strategy for Green Growth has raised the organic food industry as a key sector for business opportunity. The Republic of Korea is Asia’s second largest organic food market and it continues to grow, due to increased interest at consumer level and increased buying power. The market size is expected to reach €447 million by 2025.
Business opportunities in Korea are open to companies offering reasonably priced processed organic food and beverage products, as the ones currently in the market cost twice as much as non-organic products.
Premium-labelled products such as chocolate and wine are popular. Other opportunities include organic baby food, and organic processed food or ingredients such as flours and cereals, where ingredients must be from EU origin or imported into the EU.
Under the EU-Korea equivalence agreement, companies carrying the EU organic certification label are recognized as certified organic, benefiting EU companies wishing to do business in Korea.
The 2020 EU Gateway | Business Avenues mission on processed Organic Food & Beverage to Korea will take place from 30 November to 4 December 2020.
EU companies wishing to consolidate their business in Korea can apply to this business mission until 12 June 2020.