South Korea: Last year’s food exports is the highest in history

Published 2021년 5월 28일

Tridge summary

Korea's food exports reached an all-time high of $4.28 billion in 2020, marking a 14.6% increase from the previous year, as per the Korea Customs Service. This surge was primarily driven by a 29.2% rise in ramen exports, which exceeded $600 million for the first time, attributed to the movie 'Parasite' and the pandemic-induced craving for convenience foods. Other foods like instant rice, packaged dumplings, tteokbokki, and kimchi also saw significant increases. The U.S. emerged as the largest exporter of Korean food, with products like ramen, tteokbokki, and instant rice surging by 33.3% from the previous year. The growth in food exports is linked to the rising global interest in Korean food and the influence of Hallyu content during the COVID-19 pandemic.

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

Original content

4.28 billion dollars... 15% increase from the previous year Ramen 29%-Tteokbokki 57%-Kimchi 38%↑ Last year, Korea's total exports decreased due to the novel coronavirus infection (COVID-19), while food exports increased to the largest scale ever. This can be attributed to the growing interest in Korean food as demand for convenience food increases due to COVID-19 and Hallyu contents become popular. According to the Korea Customs Service on the 27th, Korea's food exports last year amounted to $4.28 billion, up 14.6% from the previous year. This is an all-time high. Ramen exports increased 29.2% year-on-year, exceeding $600 million for the first time. It is interpreted that the demand for ramen has increased as ramen became a hot topic in the movie 'Parasite', which was also a hit in overseas markets. Exports of instant rice (US$37 million) and packaged dumplings (US$51 million) also increased by 53.3% and 46.2%, respectively, from the previous year. It seems that the ...

Source: Donga