Food traceability (FT) is being developed while food traceability system (FTS) has become the hot topic for the food safety of the food supply chain (FSC), government regulations, and customer’s satisfaction. This survey explored the Korean consumer’s awareness, preferred information, and willingness to pay for the traceability of processed food. 35.2% of the respondents were not aware of FT whereas 77.5% did not know about FTS. The customer’s perception on the purpose of FT was as a consumer's right to know (51.8%), rather than as one enhancing food safety. The customers’ awareness of FT on processed and functional food was lower than that on agricultural, livestock, and fisheries products. The important stage of FSC that the consumers perceive was manufacturing and importing (51.5%), and the preferred information was related with raw materials. Only 7.2% of the respondents perceived FT as food safety-related certifications, which is much lower than HACCP (62.9%) and GMP (17.6%). The consumers had willingness to pay for FT at a premium of 5-10% higher than the regular price. Consumers are paying attention to food safety and quality but they are still unfamiliar with FT. Stakeholders in FSC should work together to increase consumer awareness of FT/FTS and improve consumers’ behavior.