Proceedings of 10th Asian Business Research Conference
6 - 7 October 2014, Novotel Bangkok on Siam Square, Bangkok, Thailand, ISBN: 978-1-922069-62-7
A Study of Trends and Future Prospects in the Food Industry in
South Korea
Sungjae Pak*
The food industry in South Korea is a key and continuously maturing industry, as per
many indices, such as the value of production, the number of companies, the number
of workers, and the trade volume.
On the other hand, the external and internal environment of South Korea has been
changing in the last decade.
Factors such as demand for capital investment, global warming, the rapid aging of the
population, a decreased birthrate, price volatility of essential foodstuff ingredients due
to climate change, high dependence upon imports, progress on trade agreements
such as the FTA, and globalization are considered both threats and opportunities.
In this study, I analyze micro and macro level market trends by employing time series
data from the food annual report and data from the review of existing research and
completed work.
Specifically, based on the above results, change of the growth possibility of the overall
market, the market trend according to items, a concentration ratio, and a change of
distribution channel are analyzed, and finally, the product trend and business trend in
food industry are clarified.
It is expected that these results provide implications for future corporate strategy and
policy decision making.
Field of Research: Management
*Dr. Sungjae Pak, Faculty of Business, Marketing and Distribution, Nakamura Gakuen University, Japan. Email:
pak@nakamura-u.ac.jp