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Last week, on September 9th 2026, I have had the great pleasure and honor to speak at the Global CEO Summit 2026 in Gyeongju, South Korea.

The theme of the conference was about the development of new technologies and how it will support industries in the Gyeongju region. My role was to participate in two sessions. One session was “Future Agriculture: Unlocking Future Industries with AgriTech” and the second one was “Shaping Gyeonbuk’s Future: CEO Roundtable”.

Here is a link of the entire conference as broadcasted on YouTube.

The entire conference was quite energetic and enthusiastic. The discussions were quite productive with many astute remarks and suggestions that will undoubtedly be very useful for further action. I found this conference quite stimulating and informative. It has been a great experience.

As it was my very first time in South Korea, I had decided to extend my stay and spend more time in the country. I spend several more days in Gyeongju and a few more in Busan. Of course, discovering Korean food was one of the most important goals of this stay, and it did not disappoint. The many restaurants and cafés have been a real treat all along.

Gyeongju is a lovely mid-size town with a rich cultural heritage. I really enjoyed the quaint and relaxed atmosphere. I have had a great time there. Korean history is everywhere in town. I knew very little about the history of Korea and Gyeongju was the ideal place to learn about it. The many museums, the tombs of rulers from the Silla dynasty and heritage building have all been a great opportunity to discover the rich past of the region and of the country.

Busan had a different vibe. It is a major urban center and the pace there is different than in Gyeongju. I was staying near the seaside and clearly, that part of Busan is very much focused on tourism. As far as I am concerned, Gyeongju was about learning and Busan was more about entertainment.

Traveling across the country also made a few things clear for me. First, it is quite a mountainous country and there are not many places for farming and for urban development. Clearly, there has to be competition between the two of them. With such a limited space, it is obvious that every piece of land that can be put into food production is utilized for that purpose. The density of agriculture is high. Just as urban development has to go vertical, so does agriculture and that will be part of the future.

Another aspect that definitely will affect future agriculture is climate change. South Korea, just like many other regions in the world has had to deal with very hot temperatures this year. Climate change will undoubtedly play a pivotal role in not only how food production will be set up but also which productions will have a future and which ones will probably struggle. This is where technology can play a role but technology alone is never enough. Leadership and long-term vision are just as important. From my experience during the Gyeongju Summit, I believe that the leadership and the vision are strong. This will be quite valuable. Of course, execution and collaboration will be key, as usual.

Another thing that came up clearly to me during the event is the collective spirit. Clearly, the purpose here goes beyond just the business. It is about the group, be it the value chain, the community, the region and the country. This is something that was very obvious for me in Gyeongju. It is something that I feel much less present in similar events in North America and Europe. I like the spirit that I found in South Korea.

Of course, like with all conferences, time is limited and there is only so much that one can discuss. There certainly are many questions that have remained unanswered. Because of that, I would like to indicate here a few avenues that I believe are useful for further steps.

Food is a dynamic business and it is in constant evolution. On the consumer ends, demographics change and it will affect how people consume and what markets will trend up, and also which ones will trend down. I see the future demographic situation of South Korea as an important factor, first of all in terms of market size. From a population of 52 million in 2025, it is expected to drop to 47 million in 2050 and even to 22 million in 2100, according to UN forecasting. The country is aging. In such a situation, I see two major groups influencing food consumption.

Gen Z and the rising Gen Alpha will consume and buy quite differently that the previous generations. Trends will move fast. Today, like in many countries, protein is fashionable. Fiber will be the next one. Although in Western countries, ultra processed foods are under serious scrutiny, I did not have the impression that it was quite the case in South Korea, as many products that would be considered ultra processed foods seem quite popular with young people. Of course, I did not carry out a market survey and I stayed here just a week. Other aspects that will have an influence are the desire for new flavors and experiences. Another aspect that will shape food consumption -and other consumer goods- are values. Younger generations do not just buy a product, a brand or from a company. They buy values. They expect producers to be faithful to the values they claim and to stick to them. Failure to do so will be punished immediately. Older generations tended to be more loyal to a brand or to a company. That is not the case with younger people, probably also thanks to social media. Their loyalty goes to values, and they will buy from those who present the values that they look for. Too bad for the brand or the company if they disappoint.

The other group that will have influence are the seniors. Their eating habits are different and so are their nutritional needs. They will be somehow more traditional and less fickle in their choices. That also present opportunities, just of a different kind.

In mature markets, consumption often shifts from volume growth to value. After all, a stomach can only absorb so much. In such markets, niches play an increasingly important role. The key of a niche is to produce added value. The drawback is that the volume of a niche is limited, per definition. To succeed with added-value products, the key is to understand what presents value to the consumer, and that can be difficult to define and to spot. This problem is everywhere. It is not just a South Korean industry issue. Actually, Canadian food producers struggle with the same dilemma. The industry and the government try to push producers to get in that direction, but consumers also have their say. Adding value requires a strong understanding of what truly matters to consumers, and what trends on social media is often different than what really is on top of the consumer’s mind. Further, unlike what many marketing consultants claim, price does matter but it matters relatively to the perceived value. As long as a product seems to have great value for money, it sells well. If not, then it does not sell. The problem for many food producers is that they often still think from a production-driven perspective, not from a market-oriented one. They think costs plus. Consumers look at it differently. They compare all the options they have and they pick the ones that offer the best perceived value for their money. The problem here is that perceived value changes all the time. All it takes is a new good-value-for-money product to change the dynamics of a market. Value is relative and subjective. Costs and prices are rational and economic in nature. Success with added-value products depends on how the two match or not.

This has consequences when food producers address issues that are considered of importance, such as health, nutrition, environmental impact or animal welfare. I have seen so many surveys claiming that consumers say they would be willing to pay more for “better” production methods, and yet consumers showed a very different behavior when in the store. They do not perceive the value for the additional price and they stick to the “lesser” production systems.

What really matters from a producer stand point is profitability. Regardless of all marketing aspects, the reality is that prices are always the result of negotiations and the outcome of commercial negotiations always depends on the supply and demand situation. To balance supply and demand, it is essential to do some solid forecasting in terms of volumes but also in terms of who the competitors are and what their respective cost structure is.

An interesting example for balancing supply and demand is the Canadian supply management system, which really comes down to a quota system. The industry forecasts what the domestic market can absorb and adjust production quotas accordingly. Of course, that also requires to limit outside competitors to access the market. Actually, that system is not bad. However, it requires that the country can already supply itself and is competitive enough. Canadian farmers in these value chains make a very decent income. What I see a bit of a weakness, is that this “protected” situation may sometimes be an impediment to innovation, particularly in marketing. Also, such a system is not aimed at conquering export markets. Everything has advantages and disadvantages.

This trip has been very informative and helped me look at many aspects of food production and consumption from a new angle. This has been quite refreshing.

Copyright 2026 – Christophe Pelletier – The Food Futurist – The Happy Future Group Consulting Ltd.