We sincerely welcome you to the 5th Seoul International Food Forum. I would like to express my special

thanks to Kim, Jae Soo, Minister of Agriculture, Food and Rural Affairs, Yoo Moo-young, Vice Minister of

Ministry of Food and Drug Safety, and today’s keynote speaker, Daniel Kim, Commissioner of Queensland

Government Korea Office.

Due to low growth and weak domestic demand, the domestic food market is very saturated. Therefore, it

is not an understatement to say that globalization is the new opportunity for the food industry. Moreover,

strategic marketing for overseas markets is not only important for food companies but also for securing

Korea’s new growth engine.

Fortunately, the global food market is continuing to grow, with dietary changes, aging, and growth of

developing countries. In fact, the global food market has grown from 48 trillion dollars in 2011 to 57 trillion

dollars last year, and we expect this growth to continue for the foreseeable future.

At the heart of this growth is the Asia-Pacific region. The Asia-Pacific food market is 22 trillion dollars this

year, accounting for 36% of the global food market, followed by Europe and North America by 19 and 11 trillion 

dollars, respectively. Due to the recent THAAD conflict, the Chinese market in which the food industry has

tremendously invested raises concerns, and the need for market diversification has become an urgent issue

to address.

Therefore, the Seoul International Food Forum outlines the success stories and strategies of localization and

securing of distribution channels of global companies, the results and challenges of Korean companies' entry

of K-food into overseas markets, and the government's support policies for K-food globalization. We would

also suggest ways of entering the overseas markets.

Failure and success stories of market entry in Australia and Southeast Asia, as well as in Europe and the

United States, where major food companies are targeting, will have great implications for latecomers.

I hope that the Seoul International Food Forum will serve as a chance to read the new trend of the global

food market and become a guide in the expansion of Korean companies overseas.

Thank you.