Export Value from Jeonnam Reaches $20.82 Billion by May This Year, 'Record High Performance'

33% Increase Compared to the Same Period Last Year

[Muan=Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] Jeonnam Province announced on the 22nd that the export amount from the Jeonnam region reached a record high of $20.82 billion as of May this year, a 33.0% increase compared to the same period last year.

This represents a 49.4% increase compared to 2019, surpassing the pre-COVID-19 level.

By product category, petrochemical products recorded $7.6 billion, up 23.9% from last year, and petroleum products reached $7.3 billion, up 105.1%, due to price increases following the rise in international oil prices.

Exports of agricultural and marine food products increased by 19.5% to $250 million. Leading the growth were gim seaweed at $98 million (30.4% increase year-on-year), abalone at $20 million (52.2%), duck feathers at $15 million (53.4%), and powdered milk at $14 million (9.1%).

By country, exports were $4.4 billion to China (2.7% increase year-on-year), $1.6 billion to the United States (62.4%), $1.6 billion to Australia (380.2%), $1.4 billion to Vietnam (100.0%), and $1.3 billion to Japan (16.5%).

This success is attributed to the continued promotion of non-face-to-face marketing methods established during the COVID-19 pandemic in 2020, such as video consultations and online exhibitions, as well as various offline marketing activities resumed after March with the easing of COVID-19, including the Anaheim Food Expo in the U.S., dispatching market development teams to Vietnam, and promotional events for excellent agricultural and marine products linked to the LPGA.

Additionally, boosted by the rising awareness of K-Food, Jeonnam became the first local government in the world to open the ‘Jeonnam Brand Pavilion on Amazon USA,’ which has since expanded to seven countries in Europe. The entry of excellent agricultural and marine products into Costco and the operation of 21 permanent Jeonnam sales outlets across eight countries also contributed.

Furthermore, support measures such as expanding export insurance premiums, providing emergency operating funds through special guarantees, and supporting export logistics costs for small and medium-sized enterprises suffering export damage due to the Ukraine crisis were also cited as contributing factors.

Shin Hyungon, Jeonnam Province’s International Cooperation Officer, stated, “To continuously expand exports, not only traditional marketing such as dispatching market development teams and participating in expos but also online marketing like operating the Amazon brand pavilion is becoming important. Starting with the Jeonnam self-operated mall to be launched in the second half of the year, we will actively support marketing strategies suitable for changes in overseas markets.”