The Muslim population account for 23.3 percent of the total in the world, and is expected
to expand to 26.4 percent. As approximately 60 percent of the Muslim population is less than
30 years old, Islamic countries will really be emerging markets.
Per capita GDP of Muslim population has been grown by 6.8 percent on an annual average
basis over the past 10 years, surpassing that of world average. In particular, corporations of
advanced countries such as United States, Europe and Australia, etc. have competitively
advanced into the Halal markets, which have been dramatically globalized Most countries
in the world have made every effort to go into the Halal markets, by developing new
brands based on healthy and nature friendly products, characterized by Halal ideal.
Major Islam countries represented by UAE, Malaysia and Indonesia
have been implementing the Halal standardization projects, with a view to
taking the initiatives in the Halal markets amounting to U$2.3 trillion.
After placing emphasis on developing Halal markets initiated by President Park
on the 2015 State of Union Message, the Korean government has established the
Memorandum of Understanding (MOU) with UAE on the cooperation of agriculture
and Halal Food.
Also, in light of hot blast of Hallyue (“Korean Wave”), FTA between Korea and ASEAN,
The second boom in Middle East and Eco-friendly industrial infrastructure of Korea,
Korean exports is anticipated to grow substantially in the Islamic countries with
appropriate market strategy. Halal markets will give potentially important opportunities to
companies with agro-fishery food, raw material medicines, cosmetics, Muslim tourism,
investment & finance, medical service, and to young job seekers as well.