News

The kimchi export market in South Korea is showing signs of recovery

Fresh Cabbage
Vegetables
South Korea
Published Aug 9, 2023

Tridge summary

Kimchi exports in the first half of this year have increased by 4.8% and 20.3% compared to the same period last year and the average year. This growth is attributed to increased demand in the US and European markets due to the Korean Wave and the K-Food trend. On the other hand, kimchi imports have decreased by 6.6%, leading to an improvement in the trade balance. The Ministry of Agriculture, Food and Rural Affairs plans to continue driving momentum and aims to achieve $300 million in kimchi exports by 2027 through various strategies and improvements in quality.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Kimchi export growth seems to be reviving. The Ministry of Agriculture, Food and Rural Affairs announced that kimchi exports in the first half of this year recorded $80,566,000. This is an increase of 4.8% and 20.3%, respectively, compared to the same period last year and the average year. Export volume was 23,000 tons, an increase of 3% and 20%, respectively, compared to the previous year and the average year. Last year, the kimchi export market faced a dark period due to the weak yen in Japan, a major exporter, and unstable supply and demand for cabbage in Korea. Kimchi exports and exports, which had been growing since 2016, decreased from 160 million dollars (43,000 tons) in 2021 to 141 million dollars (41,000 tons) last year. It was found that the demand for kimchi in the US and European markets increased thanks to the Korean Wave and the K-Food craze that entered this year. According to the Ministry of Agriculture, Food and Rural Affairs, kimchi exports to the US and Europe ...
Source: Nongmin
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