By Kayla Lee

The Ministry of Agriculture, Food, and Rural Affairs announced on Sept. 12 that the 3rd Shuttle Economic Cooperation Team dispatched to Riyadh, Saudi Arabia, has achieved the signing of 8 business agreements (MOUs) in the field of smart farms and food, amounting to $50 million.

Led by Han Hoon, Vice Minister of the Ministry of Agriculture, Food, and Rural Affairs, the Shuttle Economic Cooperation Team held a "Korea-Saudi Business Round Table" on Sept. 11, which included meetings between companies and food tasting events.

The 3rd Shuttle Economic Cooperation Team, composed of export companies in the fields of smart farming, food, and plant machinery, actively expanded their activities to enter the Saudi market.

At the "Korea-Saudi Business Consultation Meeting" held in collaboration with the Korea Trade-Investment Promotion Agency (KOTRA), a total of 270 one-on-one consultations were conducted between 30 Korean companies with excellent technological capabilities in smart farming (12), food (4), and plant machinery (4), and more than 30 Saudi companies, resulting in a total contract value of $30 million.

Simultaneously, at the Korean agriculture and food tasting booth exhibited outside the consultation room, local buyers' high interest was aroused by the display of smart farm-produced Stevia tomatoes, Korean exported produce Shine Muscat grapes, processed foods such as ginseng candies, and ramen.

Furthermore, at the Business Round Table that started in the afternoon as part of the event, attended by government officials from Saudi Arabia's Ministry of Water and Environment Agriculture and more than 60 Saudi companies along with 26 domestic Korean companies, discussions were held to strengthen economic cooperation between the two countries.

During this event, it was also announced that an additional 8 agreements in the field of smart farming and food, totaling $50 million, were signed to enhance cooperation.

WDG Farm, which drew the attention of Saudi nationals with Stevia tomatoes, signed 2 agreements in the smart farming field, bringing the total number of agreements in the smart farming field to 6. Additionally, in relation to the export of K-Food, including popular items like Samyang's Buldak Bokkeum Myeon (Fire Noodle), 2 agreements were signed.

Vice Minister Han commented, "Through this event, we were able to directly witness the strong interest and demand for Korean smart farming, food, and K-Food in the Middle East. We will spare no effort in providing full support to ensure that the fields of smart farming, food, and K-Food Plus continue to contribute to the Middle East boom."