S. Korea's Farm Goods Exports Hit Record High in 2020 | Be Korea-savvy

S. Korea’s Farm Goods Exports Hit Record High in 2020


This photo, provided by Daesang Corp. on July 22, 2020, shows its Jonggajip kimchi.

This photo, provided by Daesang Corp. on July 22, 2020, shows its Jonggajip kimchi.

SEOUL, Jan. 5 (Korea Bizwire)South Korea’s exports of agriculture products reached an all-time high of US$7.57 billion last year on the back of strong demand for kimchi and processed foods, data showed Tuesday.

The record amount represents a 7.7 percent rise from the previous year, according to data compiled by the Ministry of Agriculture, Food and Rural Affairs.

By category, outbound shipments of fresh products rose 3.4 percent on-year to $1.43 billion. Those of processed goods also increased 8.8 percent to hit $6.14 billion.

The ministry said exports of kimchi, a traditional Korean side dish usually made of fermented cabbage, salt and hot peppers, soared 37.6 percent to reach $144.5 million.

Outbound shipments of ginseng-related products, widely consumed as health supplements in South Korea, also grew to reach $230 million last year amid growing popularity of health products during the pandemic.

Exports of processed rice goods, such as home meals like porridge, grew 26.7 percent to $137.6 million, while those of instant noodles topped $600 million for the first time.

By region, exports to the United States jumped 38 percent from the previous year to $1.21 billion on the back of demand for ramen, kimchi and processed rice products.

Outbound shipments to Southeast Asia and India rose 9.1 percent to $1.56 billion thanks to increased home meal demand due to the pandemic.

(Yonhap)

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