Seoul: South Korean Agriculture Minister Song Mi-ryung announced that the government will focus on expanding exports of Korean agriculture, food, and traditional liquor products, capitalizing on the increasing global popularity of Korean culture.
According to Yonhap News Agency, Minister Song highlighted that exports of Korean food, agriculture, and farming products have been thriving, with the total outbound shipments surpassing US$1.3 billion as of mid-February, marking a 6.5 percent increase from the previous year. The Ministry of Agriculture, Food and Rural Affairs has set an ambitious export target of $14 billion for 2025, reflecting an 8.1 percent increase from the previous year.
In the press conference, Song emphasized the importance of marketing strategies to enhance exports, particularly for food products and traditional liquors such as makgeolli and soju, in response to the growing global interest in Korean culture. She noted the potential to boost the popularity of these traditional Korean drinks alongside Korean foods, drawing parallels to how France and Japan have successfully marketed wine and sake, respectively.
Makgeolli, a traditional Korean rice liquor with a milky appearance, and soju, a popular distilled alcoholic beverage in Korea, are seen as key products in this export strategy. Song highlighted the potential for growth in the traditional liquor market, which could also drive demand for rice and benefit local farmers. She pointed out that Japan uses 30,000 tons of rice annually for sake production, whereas South Korea uses only 5,600 tons for its liquors.
The agriculture minister also addressed concerns about the potential impact of new U.S. import tariffs on various goods, stating that her ministry is evaluating any possible effects on the food industry. The government is in direct communication with local companies to minimize any potential negative impacts and plans to offer support to those affected by exchange rate volatility.
Efforts will be made to strengthen the presence of Korean food and agricultural products in major markets like the U.S., China, and Japan, while also diversifying export destinations to regions such as the Middle East, India, and Southeast Asia. Song assured that protecting South Korean companies' interests remains a priority, though it is currently unclear how U.S. protectionist trade policies might impact the local industries.
Minister Song expressed confidence that the Korea-U.S. free trade agreement, which exempts 98 percent of exports to the U.S. from tariffs, would mitigate immediate trade issues. She also mentioned that non-tariff barriers, such as quarantine negotiations, are managed by experts and are unlikely to pose significant challenges.