S. Korea's Exports of Ginseng Set New Record in 2019 | Be Korea-savvy

S. Korea’s Exports of Ginseng Set New Record in 2019

Ginseng. (image: Yonhap)

Ginseng. (image: Yonhap)

SEJONG, Jan. 22 (Korea Bizwire)South Korea’s exports of ginseng reached a new fresh high in 2019 on the back of increased shipments to China and Vietnam, data showed Wednesday.

Outbound shipments of ginseng products advanced 12.4 percent on-year to reach US$211 million in 2019, according to the data compiled by the Korea Agro-Fisheries & Food Trade Corporation.

It was the first time that they had risen above the $200 million threshold.

Exports of processed ginseng products, including drinks, led the growth by advancing 22 percent over the period.

By country, exports to China moved up 37 percent to $70 million, and shipments to Vietnam soared nearly 40 percent to $21.4 million.

Exports to Japan edged up 5 percent to $34 million over the cited period, the data showed.

Outbound shipments to Hong Kong, on the other hand, decreased 0.3 percent on-year to $28 million.

South Korea also shipped $20.9 million worth of ginseng to the United States in 2019, down 11.7 percent on-year.

The state-run firm said it will continue making efforts to release customized products in different markets around the globe and further increase shipments of ginseng products in 2020.

South Korea will also make efforts to penetrate deeper into American and European markets, as Chinese-speaking regions currently take up 56 percent of its ginseng exports, it added.

Last year, South Korea’s overall exports moved down 10.3 percent amid the protracted trade row between Washington and Beijing. The trade ministry in Seoul earlier said it expected exports to rise 3 percent this year.


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