South Korea Agriculture Tenders

South Korea's agriculture, food, and beverages (AFB) market is a significant contributor to the country's economy, generating over USD 129 billion in revenue in 2021. Driven by a growing population, rising disposable incomes, and evolving consumer preferences, the market is expected to expand at a CAGR of 5.44% from 2023 to 2028.

The South Korean government plays a crucial role in the AFB sector, actively procuring a wide range of products and services to support its domestic food supply and promote sustainable agricultural practices. Government procurement in the AFB sector reached USD 5.7 billion in 2022, representing a significant portion of overall market activity.

The South Korean government procures a diverse range of AFB products and services, including:
Agricultural products: Rice, wheat, barley, fruits, vegetables, and livestock products
Processed food products: Dairy products, processed meats, bakery goods, and confectionery
Beverages: Soft drinks, alcoholic beverages, and bottled water
Agricultural machinery and equipment: Tractors, harvesters, and irrigation systems
Agricultural research and development services: Crop improvement, pest control, and soil management

The primary authorities responsible for AFB procurement in South Korea include:
Rural Development Administration (RDA): Oversees the procurement of agricultural products and services to support farmers and rural communities
Korea Forest Service (KFS): Procures forestry products and services to manage and protect the country's forests
Korea Agro-Fisheries & Food Corporation (KAFOCO): Manages the procurement of food grains and other essential agricultural products

Major companies that have secured significant AFB procurement contracts in South Korea include:
Hite Jinro: Leading producer of alcoholic beverages in South Korea
Lotte Chilsung: Major beverage producer, including soft drinks and bottled water
Nongshim: Leading producer of instant noodles and other food products
Orion Confectionery: Manufacturer of confectionery products, including chocolates and biscuits
Hanwoo Corporation: Leading supplier of high-quality Hanwoo beef

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