Kimchi with wings… Last year’s export’the largest ever’

Input 2021.01.06 06:00

Last year, it was found that Korea’s export of kimchi reached an all-time high. It is analyzed that the export of kimchi has soared as the global demand for fermented foods that help immunity has increased due to the COVID-19 outbreak.

According to the’Promising Item AI Report-Kimchi’ report released on the 6th by the Korea International Trade Association Institute for International Trade, Korea’s kimchi exports from January to October last year increased 36.4% from the same period of the previous year to $ 111.9 million (about 130 billion won). It hit an all-time high. It exceeded 32,000 tons for the first time in terms of volume.

Japan was the largest kimchi export market. From January to October last year, the Japanese market accounted for 49.9% of Korea’s kimchi exports, accounting for half. Exports also increased by 28% compared to the same period of the previous year to 59.4 million dollars. The United States, Hong Kong and Taiwan followed.

The report said, “The export growth rate increased by more than 50% compared to the same period last year in Singapore (85.4%), Australia (64.7%), the United States (56.3%), and Hong Kong (50.4%).” It is interpreted that the interest has increased and that it has seen the Hallyu effect such as BTS.”

According to the Korea International Trade Association, Korea’s kimchi exports have grown for five consecutive years since 2016, and the export growth rate has also exceeded an annual average of 10%. As of 2015, exports amounted to 7354 million dollars, and the data is expected to exceed 130 million dollars by December 2020.

Eui-yoon Cho, a researcher at the Korea International Trade Association, said, “In spite of the controversy over the’International Kimchi Standard’ with China, Korean kimchi is rising to the table of the world, solidifying its status as a host country.” In addition, there is a need for product localization and quality improvement efforts.”