SEOUL: The Indonesian government seeks to increase food and beverage products exports to South Korea by strengthening three aspects — quality, price and packaging, the Indonesia Ambassador to South Korea, John A. Prasetio, said. The strategy was promoted at the Seoul Food and Hotel fair 2016 in Kintex, Seoul, South Korea, held from May 10-13, 2016, prasetio said in a press release received by ANTARA here on Monday..
At around US$ 70.1 million, South Koreas import of food and beverage products from Indonesia is still relatively small, the Ambassador said. He added that it covers only 0.78 percent of South Koreas total imports of food and beverage products from all over the world. According to Prasetio, South Korea is a potential market for Indonesias products in this category because the sector is a growing business in the country, chalking up US$51.3 million. In addition, South Koreas per capita income of $33,200 indicates very high purchasing power.
“We have managed to increase trade contacts with South Korean businesses during the Seoul Food and Hotel Fair 2016,” he remarked. During the event, South Korean importers, sales agents and distributors of food and beverage products directly met with the Indonesian food and beverages product exporters. “The fair helped penetrate the international market and in promoting exports,” Prasetio said. The Indonesian pavilions theme at the fair was “Trade with Remarkable Indonesia,” and featured 16 food and beverage companies.
The products on display included healthy drinks, frozen sweet potato, roasted peanuts, wafers, biscuits, banana chips, cassava chips, sweet potatoes chips, organic coconut sugar, ice cream mix and pudding mix. The fair was officially opened by the President and CEO of KOTRA, Jaehong Kim, and was attended by ambassadors from various countries, including the US, Italy and Spain. At least 1,400 companies participated in the event.
The Seoul Food and Hotel Fair is an annual international event. In 2015, a total of 1,300 companies from different countries had participated, and more than 45,245 people had visited the fair. “We are optimistic that this exhibition could boost the value of Indonesias non-oil exports to South Korea,” Prasetio said. The Ministry of Commerce noted that the total trade value between Indonesia and South Korea in 2015 was US$ 16.7 billion. It comprised $7.9 billion worth of South Korean exports to Indonesia and $ 8.8 billion worth of imports from Indonesia.
