Korean food exports rise 9.2 percent, led by instant noodle, rice products

Economy

Korean food exports rise 9.2 percent, led by instant noodle, rice products

Published: 06 Aug. 2024, 19:09

A customer selects ramyeon at a supermarket in Seoul on Jan. 8. [NEWS1]

Korea's exports of foodstuffs rose 9.2 percent on year in the first seven months of 2024, data showed Tuesday, led by sharp growth in instant noodle and processed rice products.

Outbound shipments of food products came to $5.67 billion over the January-July period, compared to $5.18 billion tallied a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs.

By product, exports of instant noodles jumped 34 percent over the period to hit $699 million, with those of snack products rising 14.7 percent to $424 million.

Exports of processed rice products also surged 45.7 percent to $165 million amid the growing popularity of ready-to-eat rice and frozen gimbap, or seaweed rice rolls.

Other major winners included ginseng products, whose exports rose 5 percent to $179 million, along with kimchi, which advanced 3.7 percent to $97 million.

By destination, exports to the United States jumped 23 percent to $886 million, with those to China gaining 5.9 percent to $837 million.

The ministry attributed the overall growth to the diversification of export products, including vegan dumplings and kimchi that can be preserved at room temperature.

"The government plans to maintain the momentum by rolling out marketing campaigns for K-Food, as well as securing overseas logistics centers and finding importers and retailers," the ministry said.

Yonhap