SEOUL, June 13 (Korea Bizwire) — South Korea’s insects industry grew 2 percent in 2020 from a year earlier, data showed Sunday, amid growing popularity of insects-based foodstuffs. The combined sales of local insect-related companies reached 41.4 billion won (US$37.1 million) in 2020, up from 40.5 billion won a year earlier, according to the data [...]
SEOUL, April 8 (Korea Bizwire) — South Korea’s agricultural ministry said Thursday it plans to expand the size of the insects market to 140 billion won (US$124 million) by 2025 and foster the segment as a new growth engine for the country’s food industry. The targeted market value marks 55 percent growth from 2019, according [...]
SEOUL, May 27 (Korea Bizwire) — The size of South Korea’s insects industry rose 8 percent in 2019 from a year earlier, data showed Wednesday, as a growing number of companies raise or process insects for foodstuffs, pets and other purposes. The combined sales of local insect-related companies reached 40.5 billion won (US$32.9 million) in [...]