Packages of kimchi products are displayed at a supermarket in Seoul in this file photo taken on April 21, 2021. (Yonhap)
SEOUL, Jan. 18 (Korea Bizwire) — Last year’s Korean Wave fever led to record-breaking kimchi exports, data showed Monday.
The Korea Customs Service and the food industry reported that last year’s kimchi exports reached US$159.9 million, up by 10.7 percent from the previous year.
Kimchi exports have been increasing for the past six years.
In 2020, kimchi exports skyrocketed to $144.5 million, up 37.6 percent from the previous year, setting a new eight-year high. This record, again, was topped the following year.
Sorted by destination, 50.1 percent of kimchi exports went to Japan ($80.12 million), followed by the U.S. ($28.25 million), Hong Kong ($7.72 million) and Taiwan ($6.91 million).
Last year’s kimchi imports reached $140.74 million, down by 7.7 percent from the previous year. The drop was by far the largest since 2014 (-11.1 percent).
The kimchi trade balance reached a surplus of $19.17 million. It is the first surplus on record in the 12 years since the global financial crisis in 2009.
Ashley Song (ashley@koreabizwire.com)
