[Next FTA] 2: Korea-ASEAN FTA Turns 20; ASEAN Rises to Become K-Food's Third-Largest Market

Exports reached $1.865 billion last year
13-fold increase from before the FTA took effect
ASEAN ranks second in export share, after Greater China

The Korea-ASEAN Free Trade Agreement (FTA), which took effect in 2007, will mark its 20th anniversary next year. In the meantime, the status of K-food in ASEAN has changed significantly. Consumers have moved beyond watching Korean dramas and seeking out the food they see on screen. They now buy ingredients at supermarkets to make gimbap and kimchi themselves. K-food has become part of everyday meals, rather than an unfamiliar food people try just once.

◆Exports up 13-fold in 20 years, share nearly triple= K-food's popularity is also evident in the figures. According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on October 27, exports of K-food products (agricultural, livestock and forestry products) to ASEAN rose 13-fold, from $143 million in 2005, before the FTA took effect, to $1.865 billion in 2025. Exports reached $1.3657 billion from January to September 2026. ASEAN's share of Korea's total K-food exports also grew from 6.4% in 2005 to 18.2% in 2025. ASEAN ranked fourth among export destinations in 2005, behind Japan (32.1%), Greater China (20.9%) and the United States (12.6%), but in 2025 it became Korea's second-largest market after Greater China. From January to September 2026, ASEAN ranked third, with a 17.1% share, behind Greater China (22.9%) and the United States (18.8%).

The changing status of K-food in ASEAN is also reflected in reports by aT, which supports K-food exports. In a report titled "In-Depth Survey of Overseas Markets," released in September 2007, aT identified "strengthening export support to develop new markets" as a way to enter ASEAN. Its strategy was to expand the promotion of Korean food culture and actively leverage a Korea-ASEAN FTA as an opportunity to gain an early foothold in export markets. However, a 2025 report observed that "young consumers in ASEAN, who are familiar with the Korean Wave, including K-pop and Korean dramas, are actively embracing Korean food and beverages, making K-food a popular trend in the ASEAN market in 2025." It analyzed that exposure to Korean popular culture had fueled curiosity about Korean flavors and food culture, which was translating directly into consumption of related products. ASEAN has thus changed from a new market to be developed into a "mass-consumption market" for K-food.

Consumers visiting the 2026 ASEAN K-Food Fair, held in Hanoi, Vietnam, this July, browse the K-food products on display. Ministry of Agriculture, Food and Rural Affairs.

◆ASEAN's agri-food market still has significant room to grow= The ASEAN market also has considerable growth potential. According to Statista, a private market research company, the region's agricultural, forestry, livestock and food market, excluding seafood and animal feed, grew 15.6% from $511.3 billion in 2023 to $591.0 billion in 2025. Statista forecasts that the market for agricultural and livestock products will reach $673.8 billion in 2027, a further 14.0% increase from 2025.

Building on the expansion of the ASEAN market, the government and private sector are pursuing strategies to sustain strong K-food exports. These include stepping up promotion to ASEAN consumers and matching Korean food exporters with local distributors. In July 2026, the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Trade, Industry and Energy jointly held the "2026 ASEAN K-Food Fair" and a Korean Wave expo to create synergies. The events brought together 107 Korean companies in the food, cosmetics, household goods and fashion sectors, along with about 280 buyers from Vietnam and elsewhere in Southeast Asia. The Korea Trade-Investment Promotion Agency (KOTRA) focused on beauty, fashion and household goods, while aT handled food, strengthening efforts to reach the ASEAN market.

A consumer takes a commemorative photo at the “K-Halal Street Food” event, held in conjunction with a car-free-day marathon in downtown Jakarta, Indonesia, this September. aT

◆Strong local response to tteokbokki and gimbap= Local distributors have also responded enthusiastically to K-street foods such as tteokbokki and gimbap. At the Next K-Food Export Consultation Fair, held in Daejeon in September 2026, buyers from major Thai distributors and the food and beverage distribution sector took part in one-on-one meetings with Korean exporters. The event resulted in 42 export consultations, focused on products such as tteokbokki, beverages and snacks, and memorandums of understanding (MOUs) worth a total of $300,000.

That same month, a "K-Halal Street Food Promotion Pavilion" was set up in downtown Jakarta, Indonesia, alongside a marathon event. It offered tastings of a variety of K-halal and street foods, including fruit and vegetable juices, soy milk, Keurungji snacks and tteokbokki. An official at a food company said, "ASEAN has a strong affinity for Korea, including Korean dramas, and the food industry sees it as a proven test bed for K-food exports. Many food companies are using their entry into ASEAN to test the potential of their products before pursuing exports to other markets, including the United States and Europe."

Supported by: Ministry of Agriculture, Food and Rural Affairs and Korea Rural Economic Institute

This content was produced with the assistance of AI translation services.