Overcoming Logistics Crisis and COVID-19... Korean Agricultural and Marine Products Surpass $10 Billion for the First Time

Last Year Recorded $9.87 Billion... Largest Performance in 50 Years Since 1971 Statistics Management

Traditional Foods Like Ginseng and Kimchi, Income-Direct Items Like Strawberries and Grapes 'Hit'
Seaweed Exported to 113 Countries Tops Single Item... Oysters, Flatfish, Fish Cakes Also Well Received

[Sejong=Asia Economy Reporter Moon Chaeseok] South Korea's agricultural and marine food exports have surpassed 10 billion dollars (approximately 11.96 trillion KRW) for the first time. This achievement marks the highest performance ever, overcoming the global COVID-19 crisis and logistics disruptions.

On the 28th, the government announced that export value from the beginning of the year until the 25th has exceeded 10 billion dollars. This is the greatest achievement in 50 years since export statistics began to be managed in 1971. Agricultural food exports reached 7.63 billion dollars (approximately 9.1255 trillion KRW), and marine food exports reached 2.5 billion dollars (approximately 2.99 trillion KRW), representing a 16.1% increase compared to the same period last year. Last year, despite overcoming COVID-19 and logistics disruptions, the annual export value was 9.87 billion dollars (approximately 11.8045 trillion KRW), the highest ever, and this year’s figure has surpassed that record.

South Korea began exporting in earnest in the 1990s and steadily promoted Korean cuisine and food culture worldwide, especially after 2008 with initiatives such as the globalization of Korean food. Since 2017, it has focused on developing new markets such as the New Southern and New Northern regions. As a result, the number of export countries has expanded to 200 worldwide.

The government evaluated the achievement of '10 billion dollars in exports' as a valuable accomplishment jointly created by the private sector, including farmers, fishermen, and exporters, and the government and public sectors. The private sector stabilized export volumes centered on farmers, fishermen, and exporters, thoroughly managing quality and safety to enhance competitiveness. The government provided information using overseas networks, responded to non-tariff barriers, developed online market channels, expanded logistics infrastructure, and fostered promising items.

It is also meaningful that the items driving export growth were mainly agricultural and marine products directly linked to farmers' and fishermen's incomes, as well as traditional foods such as ginseng and kimchi. Kimchi and ginseng are expected to record their highest export values this year by targeting the U.S., Japan, and New Southern markets, fueled by the spread of Hallyu and growing global interest in health foods. Strawberries and grapes have shown high growth over the past decade through efforts such as developing export-suitable varieties and targeting premium markets, becoming key items for increasing farm income. Seaweed is the top export item, exporting over 600 million dollars (approximately 717.6 billion KRW) and reaching the largest number of countries (113 countries) for a single item. Marine food products such as oysters, flatfish, and fish cakes are also exported in convenient meal kit forms.

A government official said, "We will do our best not only to stop at this 10 billion dollar export achievement but also to expand the export growth rate, leading to increased income for farmers and fishermen and revitalization of the export industry."