South Korea’s Online Agricultural Market Hits KRW 2 Billion in Transactions

South Korea’s national online platform for agricultural and fishery products, launched in November 2022, has surpassed KRW 2 billion in cumulative transactions. The platform, aimed at improving the agricultural supply chain, has seen a significant increase in trading volume, particularly since May when it expanded to include fishery products. The platform’s growth is attributed to active trading of summer produce, such as melons and peaches, during the recent months. The Ministry of Agriculture, Food, and Rural Affairs predicts that the platform’s cumulative transaction volume will reach KRW 5 billion by the end of the year. The ministry is also investing in initiatives to support producers with logistics and marketing efforts to further enhance the platform’s popularity.