Loconomy, a blend of the words local and economy, refers to food products that use local ingredients to bolster the economy. According to a survey, 81% of consumers believe these products positively impact regional economies. Loconomy foods are considered trustworthy and safe, especially among older generations who value domestic ingredients. Interest in Loconomy foods is growing, with high purchase intent and demand for region-specific and limited-edition products. Companies like McDonald's Korea have launched successful local-sourcing projects. However, rising ingredient costs could pose challenges to this market's growth.
