K-Food Targets African Market... Food Industry Association Signs MOU with Korea-Africa Foundation

K-Food has set its sights on the African market. On September 3, the Korea Food Industry Association announced that it had signed a memorandum of understanding (MOU) with the Korea-Africa Foundation at the association’s main conference room in Seoul, and will support domestic food companies seeking to enter the African market.

Through this agreement, the two organizations will establish a comprehensive cooperation system, including the exchange of information on the African food market, the discovery of promising companies, and the establishment of a Korea-Africa food company network.

Although Africa is experiencing an explosive increase in food demand due to its young population and urbanization trends, it remains a challenging region for Korean companies to enter. In June, the association participated in the 'Africa Food Show' held in Cape Town, South Africa, alongside 10 companies including Nongshim, Daesang, Orion, and Shinsong Food. They provided one-stop support, such as local market research and addressing non-tariff barriers, achieving meaningful results.

Chairman Park Jinseon stated, "Africa, along with South America, is the region where K-Food exports have lagged the most. I believe that collaboration with the Korea-Africa Foundation, which has a credible local network, will serve as a stepping stone for food companies to develop new sales channels."