Seoul Food 2015, Asia’s third-largest food industry exhibition, kicked off on Tuesday, welcoming the largest number of Chinese participants since the event’s launch in 1983, thanks to the imminent sealing of the Korea-China free trade agreement.
Theming “Wave on the Table,” the four-day convention attracted global buyers to KINTEX in Ilsan, northwest of Seoul, for cost-saving and healthy products, machinery and solutions in food technology, food packaging, hotel restaurant and catering technology, desserts, beverages, fine food and fine ingredients.
Of the 1,480 corporate participants from 44 countries, about 200 were Chinese who expect increased business opportunities through the Korea-Chinese FTA, according to Korea Trade-Investment Promotion Agency, the state-run organizer of the event. The FTA will be officially sealed next month, KOTRA said.
Buyers browse the Chinese booths at Seoul Food 2015 in KINTEX, Ilsan, Gyeonggi Province. (Chung Joo-won/The Korea Herald)
“We are expecting larger gains from this year’s event, since we have become more experienced (in market deals here),” said You Xiandong, the Chinese chief executive of Tangshan Goldentang Food manufacturer of processed chestnuts and soft-dried sweet potato. He expected that the convention will attract more Korean buyers seeking original equipment manufacturing from China.
About competition with Korean rival OEM producers, he confided that his firm’s products are at least 10 percent more price competitive than the Korean rival products, while maintaining a high level of sanitary conditions. “Many Korean chestnut sellers add sugar to sweeten the chestnuts, but our organic chestnuts are naturally so sweet that they don’t need any sweetening additives,” he added.
During the buyer consulting sessions, Korean exporters flocked to the export consulting sessions by Chinese retail giant Beijing Hualian Group, one of the 18 global retail conglomerates including Wal-Mart of the U.S., Overwaitea Food Group of Canada and REWE of Germany.
“The food industry market is expected to reach 6 trillion won this year, continuing fast growth into the world’s big three international trade markets along with energy and chemical industries,” said KOTRA president Kim Jae-hong, pointing at the ever-increasing market potential of Korean-Chinese trade.
By Chung Joo-won (joowonc@heraldcorp.com)
