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Korea needs to choose and focus on opening up overseas markets for its farm products. Based on this approach, Asia, North America and Russia should be its target markets, the Korea Rural Economic Institute (KREI) said Tuesday. ``Instead of scattershot marketing strategies, focusing on these regions will be the most effective in terms of exporting agricultural products,' KREI researcher Choi Se-kyun said at the symposium. The symposium, aimed at reviewing existing agricultural export policies and finding new and effective ways to expand markets, was held at the Korea Agro-Fishery Trade Corporation in southern Seoul. During his presentation, Choi analyzed the size of and distribution to overseas markets of 12 leading Korean farm products. His conclusion was that these markets have sufficient room for Korea to tap into. The potential markets are five to 18 times bigger than the domestic one, according to the researcher. Markets for apples and chicken in these countries, for example, are 18 times larger than Korea's, and those for tomatoes and pork are 12 and 10 times bigger, respectively. Currently the European Union (EU) is the biggest destination for Korea's farm products, with around 60 to 80 percent of strategic farm product exports sent to the region. North American and Asia follow. Choi, however, said the prospects are not bright in the long term for the European market. ``Internal trade between its member nations account for most of the EU's farm produce marketing. This means Korea doesn't have much hope of growth in exports,' Choi said. ``In contrast, Russia has unfathomable potential for all sales in fruits, vegetables and meats.' Though Korean farm products lack competitiveness in terms of prices, finding produce that customers like and developing ones that meet the preferences of the customers can write off such a shortcoming, he added. Some items such as mushrooms, pears and flowers are preferred in foreign markets. KREI's Choi also said it is important to know who is the competition. The world's largest fruit exporters, including Chile, New Zealand, Argentina and South Africa, are all located in the southern hemisphere, but Korea's biggest rivals are the United States and China, he said. Kim Tae-hoon, another KREI researcher, said the government needs to put more weight on developing processed foods using homegrown products in order to increase exports. This will also help stabilize the domestic supply-demand in relation to agriculture produce. Another proposal included the establishment of a state-run exporting organization, saying that economies of scale are pivotal to growth in outbound shipments. The e-commerce company in China offers quality products such as Computer Utility Software Manufacturer , China Movie DVDs Sale, and more. For more , please visit Microsoft Office OEM Software today!
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