The MAFRA (Ministry of Agriculture, Food & Rural Affairs) and Korea Agro-Fisheries & Food Trade Corp. (aT) have reportedly launched K-Food products in Malaysia. These products have been distributed to meet the increasing demand from high-income buyers from the distributors at Isetan, which is located in KLCC in Malaysia.
Consumption of Korean fruits has recently become a trend in the region, with the purchase of fruits rapidly on the rise among high-income people as well as the younger generation.
For instance, the exports of agricultural & fishery food products from Korea to Malaysia have reached $76.76 million by July end, a 21% hike as compared to the same period in 2019. Of these, the exports of fruits have increased by 30% on a Y-o-Y basis, along with a 34% increase in Kimchi exports.
In a briefing session jointly organized with the K-Food importers, several Korean foods such as Gochujang and Kimchi, premium fruits such as Geobong and Shine Muscat, high-quality snacks and foods for babies, have been introduced to buyers, including Euro Atlantic and KMT.
Additionally, Isetan Department Store and aT have reached an agreement to conduct a K-Food Fair at October end, which will be the 1st large-scale event to be conducted in Malaysia that is connected directly to many retailers.
For the record, Isetan, located in the major commercial areas of Kuala Lumpur, is a department store with a high-price strategy and high-quality products. This location has been evaluated as the optimal retail store to attract more high-income buyers in the country who can purchase premium K-Food products.
In August 2020, aT opened a K-Fresh Zone 11 store in a luxury retail store, Maslee, in Johor Bahru, Malaysia, to target middle- and upper-class buyers. Malaysian consumers can efficiently purchase the fresh Korean produce at any time from these retail chains.