Innocean and KOTRA Sign MOU for Overseas Hosting of 'Seoul International Food Industry Exhibition'

Strategic Business Agreement for K-Food Overseas Expansion

Innocean, an advertising affiliate of Hyundai Motor Group, announced on the 7th that it has signed a Memorandum of Understanding (MOU) with the Korea Trade-Investment Promotion Agency (KOTRA) to promote the overseas expansion of the domestic food industry.

At the MOU signing ceremony held on the 3rd at KOTRA headquarters, Lee Yong-woo, CEO of Innocean, and Yoo Jung-yeol, President of KOTRA, signed a business agreement to hold 'Seoul Food 2024 in Bangkok' and established a strategic partnership to suggest directions for the overseas development of the domestic food industry and to promote export activation for small and medium-sized enterprises.

Innocean announced on the 7th that it has signed a Memorandum of Understanding (MOU) with the Korea Trade-Investment Promotion Agency (KOTRA) to promote the overseas expansion of the domestic food industry. The photo shows KOTRA President Yoo Jung-yeol (left) and Innocean CEO Lee Yong-woo. Photo by Innocean

'Seoul Food 2024 in Bangkok,' co-hosted by Innocean and KOTRA, is the first overseas project of 'Seoul International Food Industry Exhibition (Seoul Food),' Korea's first and largest food exhibition which started in 1983 and is now in its 42nd edition. By simultaneously planning a B2C (business-to-consumer) exhibition, it aims to provide Thai consumers with a 'K-Food experience platform' and further expand into a 'global K-Food exhibition' targeting consumers worldwide.

Innocean will be responsible for overall branding, event promotion, and on-site operations of this project, serving as a foothold for domestic companies to enter overseas markets. KOTRA will handle event planning, buyer invitations, and overall operations. Innocean and KOTRA have promised regular cooperation in the future and plan to expand the F&B (Food and Beverage) platform business to showcase K-Food in the global market.

Lee Yong-woo, CEO of Innocean, stated, "We will continue to do our best for greater leaps forward as a global F&B platform business operator."