Now In Korea
South Korea’s Online Wholesale Market for Agricultural Products Surpasses 1 Trillion Won, Eyes 7 Trillion by 2030
Creatrip Team
a month ago
South Korea’s government-run online wholesale market for agricultural and fishery products has exceeded 1 trillion won in annual transactions (about 1,000 billion won), driven by higher daily trading volumes and more participants. Daily average trading rose from 1.84 billion won to 3.26 billion won (up 77%), and participating businesses increased from 3,804 to 5,272 (up 39%). Fruit and vegetables (청과) accounted for the largest share (46.4%), followed by livestock (축산) 40.5%, grains (양곡) 8.2%, and seafood (수산) 4.9%. Direct producer-to-consumer-area trades in the fruit category grew from 28% to 44.1%, while direct deliveries bypassing traditional wholesale markets rose from 65.7% to 75.9%. The Ministry of Agriculture, Food and Rural Affairs says the platform reduces time and location constraints, cuts distribution steps and logistics costs, and increases price transparency. Building on this milestone, the ministry plans to boost the market to 7 trillion won by 2030 by easing seller entry rules, adding auction and reverse-auction features to strengthen farmers’ pricing power, operating joint collection centers, and developing dedicated logistics. (청과: fresh fruit and vegetables; 축산: livestock products; 양곡: grains; 수산: seafood)
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