ASEAN and Indian markets become the largest exporter of Korean agricultural and sideline products

Published 2020년 12월 9일

Tridge summary

South Korea's agricultural and sideline product exports to its 'New Southern Policy' partners, which include 10 ASEAN countries and India, have surpassed exports to Japan, making it the largest export destination. The exports increased by 6.8% to $6.845 billion in the first eleven months of this year, despite the new crown epidemic. The export value to policy partner countries increased by 8.4% year-on-year, reaching $1.395 billion. The proportion of exports to the new southern region in total agricultural and sideline product exports exceeded 20% for the first time last year, reaching 20.4% in 2020. Products such as noodles, sauces, formula milk powder, kimchi, and grapefruit tea saw significant export growth. The Ministry of Agriculture, Forestry, Livestock and Food anticipates that the 'Regional Comprehensive Economic Partnership Agreement' (RCEP) will further boost South Korea’s exports to the regional markets of the New Southern Policy Partners.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Yonhap News Agency, Seoul, December 8. South Korea’s exports of agricultural and sideline products to its "New Southern Policy" partners (10 ASEAN countries and India) exceeded exports to Japan for the first time, making it the largest export destination of agricultural and sideline products in South Korea. Ministry of Agriculture, Forestry, Livestock and Food 9 Japan said that the export of agricultural and sideline products in the first eleven months of this year was US$6.845 billion, an increase of 6.8% over the same period last year. With the new crown epidemic fully impacting trade, South Korea’s exports of agricultural and sideline products grew against the trend and hit a record high. Among them, they were sold to the New South. The export value of policy partner countries was 1.395 billion U.S. dollars, an increase of 8.4% year-on-year. The proportion of exports to the new southern region in total agricultural and sideline product exports exceeded 20% for the first time ...

Source: Foodmate