ONLINE FOOD MARKET GROWS AMID VIRUS

[Anchor Lead]

With the global economy being in doldrums because of the coronavirus pandemic, the online food sector has been growing exponentially despite the downturn. More and more small Korean food companies are trying to establish their presence in the Chinese online food market, whose sales have doubled since the virus pandemic began.

[Pkg]

​This Chinese firm sells groceries online. A business meeting on the purchase of Korean products is in full swing.

[Soundbite] "There is a sauce inside. It comes in four flavors."

Chinese buyers can even receive real-time interpretation services.

[Soundbite] "These are waffles. Some are topped with chocolate, some are not."

An online exhibition of Korean food products organized in China by a Korean public corporation has drawn 60 Korean small and mid-sized food companies and 20 Chinese distributors.

[Soundbite] WANG SHIN(CEO OF CHINESE ONLINE DISTRIBUTOR CHUNBO) : "Because of the infectious disease going around, people in China buy their groceries and other necessities on the Internet."

When the coronavirus epidemic was in full swing in China back in January and February, this company's sales doubled as a result of the rapid growth of the Chinese online market. By contrast, Korea's exports of food products to China plunged 16 percent from 1.6 billion dollars recorded last year. But after the COVID-19 pandemic hit Europe and the U.S., Korean businesses received an opportunity to solidify their presence in the Chinese market.

[Soundbite] CHUNG YEON-SOO(aT CHINA BEIJING OFFICE) : "If Korean SMEs seize this golden opportunity, their exports to China will surge."

China's food imports reach 160 billion dollars annually. The COVID-19 pandemic has wreaked havoc on the global economy, but it has also presented Korean businesses with opportunities for growth.