Brunei & South Korea partner up to tap halal food market

Women-led companies from South Korea have engaged Brunei’s Women Business Council to pair its expertise with the sultanate’s know-how in halal food and tap into the global halal market.

“Korea is looking into the potential of the halal food industry, we recognise its value and we want to create a greater awareness on halal products in Korea,” - Lee Hae Yong, Korea Venture Business Women’s Association

She added that although the market for halal food products in Korea may be small, with Muslims representing only 0.4 per cent of the country’s population, the international market for halal food products is vast, resulting in the rising interest from Korean companies to enter this sector of the food industry.

Last year, the global halal food market reached a value of US$ 1.4 trillion and the value is expected to increase to US$2.6 trillion by 2023.

Via the Scoop:

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