Agricultural and Marine Products Online Wholesale Market Surpasses 400 Billion KRW in Transactions... "Expected to Reach 500 Billion KRW This Year"

Steep Growth in the Second Half
Onion 27.2 Billion KRW, Apple 26.8 Billion KRW, Garlic 21.0 Billion KRW, etc.
Support for Cabbage Transportation Costs and Special Sales for Kimchi Vegetables Until Year-End

The transaction amount of the online wholesale market for agricultural and marine products has surpassed 400 billion KRW. The government expects the achievement of this year's target of 500 billion KRW to proceed smoothly.

The Ministry of Agriculture, Food and Rural Affairs announced on the 21st that the transaction amount of the online wholesale market for agricultural and marine products exceeded 400 billion KRW on the 15th of this month.

The transaction amount in the online wholesale market has shown a steep growth trend in the second half of the year, surpassing 100 billion KRW on June 17, 200 billion KRW on August 20, 300 billion KRW on October 15, and 400 billion KRW on November 15. By item, various products were traded including onions at 27.2 billion KRW, apples at 26.8 billion KRW, garlic at 21 billion KRW, carrots at 17.5 billion KRW, rice at 25.6 billion KRW, and eggs at 49.5 billion KRW.

An official from the Ministry of Agriculture, Food and Rural Affairs explained, "By the end of this year, through various transactions such as transportation cost support for major kimchi-making season items including pickled napa cabbage, special sales halls for kimchi vegetables (napa cabbage, radish, chili peppers, garlic, green onions, etc.), and operation of specialized tangerine products, the target of 500 billion KRW is expected to be smoothly achieved. This is because various sellers and buyers, including production organizations and small to medium-sized marts, are gaining trading experience within the online wholesale market, and sellers benefit from reduced logistics costs while buyers benefit from reduced search costs, leading to continuous expansion of users."

The Ministry of Agriculture, Food and Rural Affairs plans to promote the enactment of the "Act on Promotion of Online Wholesale Transactions of Agricultural and Marine Products" within this year to ensure stable transactions for participants in the online wholesale market and to improve the distribution structure of agricultural and marine products.