World’s first online agricultural wholesale market officially launched in South Korea
“The Ministry of Agriculture, Food and Rural Affairs have held the opening ceremony for the Online Agricultural Wholesale Market (hereinafter referred to as the Online Wholesale Market). This market constitutes a pioneering initiative leading the digital transformation of agricultural product distribution.
At the ceremony, Minister Chung Hwang-keun underscored the unprecedented nature of the world’s first online agricultural wholesale market, articulating the Ministry’s aim to cultivate the market to a scale of KRW 3.7 trillion by 2027. He emphasized the overarching goal of reducing wholesale distribution costs by KRW 700 billion and ensuring that these economic gains are mutually beneficial for both producers and consumers.
The Online Wholesale Market, functioning as a nationwide platform allowing unrestricted 24/7 transactions, stands as a pivotal endeavor aligned with the Yoon Seok Yeol administration’s national agenda (71-2. Digital Innovation in Agricultural Produce Distribution). Its official commencement follows ten months of preparatory efforts since the establishment of a joint public-private task force in February.”
*This article is excerpted from freshplaza.com website, published December 12, 2023