Hee-jin Ahn, Gounee Yang

Global Economic News

SOUTH KOREA’S food companies are rapidly expanding their shares in the global market with the increasing popularity of kimchi.

Amid rising interest in Korean food, exports of South Korea’s kimchi have continued to increase for six consecutive years since 2016.

South Korea’s food companies are speeding up their global businesses by operating local production factories and launching localized products.

According to the Korea Customs Service, South Korea’s exports of kimchi products increased 10.7% year on year to US$159.92 million last year, jumping from US$7.9 million recorded in 2016.

Destinations of South Korea’s kimchi exports have been expanded to 89 countries and regions. The country’s Kimchi exports to Japan amounted to US$80.12 million, the United States US$28.25 million, Hong Kong US$7.72 million, U.K. US$5.50 million, the Netherlands US$5.45 million and Australia US$5.13 million.

Demand for kimchi products have rapidly increased since COVID-19 outbreak as some people even believe that kimchi can prevent COVID-19 infections due to its acid bacteria, antioxidants and immune strengthening ingredients.

South Korea’s food companies are also expanding overseas sales by diversifying exported kimchi products.