The reason why South Korea is disappointed with the increased export performance

Published 2020년 12월 4일

Tridge summary

Despite the economic impact of the Corona 19 pandemic, Korea has seen a 6.4% increase in agri-food exports compared to the same period last year, with processed foods such as ramen, vinegar, and sweets driving this growth. However, fresh agricultural products accounted for only 18% of these exports, failing to significantly contribute to the income of farm households. In fact, the majority of processed foods are made from imported raw materials, meaning local farmers do not benefit. The government has set a target to increase the use of domestic raw materials in processed foods, but progress has been slow. The article calls for a strategy that benefits farm household income through agri-food exports, suggesting a focus on fresh agricultural products and increasing their export performance.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[Korea Rural Newspaper Reporter Choi Young-jin] “Even in Corona 19, exports of agri-food increased compared to the same period last year due to the favorable production of processed foods such as ramen... ”When facing such agri-food export performance, I am glad and regretful. This is because, despite the aftermath of Corona 19, he is relieved of the increase in agri-food exports, but if you look inside it, you feel like a'soak bin gangjeong'. The accumulated agri-food exports for October this year, announced on November 23 by the Ministry of Agriculture, Food and Rural Affairs, recorded high performance, up 6.4% from the same period last year. Exports of processed foods, one of the agri-food exports, grew significantly at 7.8%. On the other hand, exports of fresh agricultural products, which directly affect farm household income, increased by only 0.7%. The cumulative export of fresh agricultural products in October was $1.12 billion, accounting for only 18% of the total exports ...
Source: Agrinet

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