K-Food Exports Reach $10 Billion in Record-Short Time

[Financial News] K-food exports surpassed $10 billion this year in 253 days, 19 days earlier than last year.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 14th, agricultural, forestry, livestock, and fishery food exports surpassed $10 billion at the fastest pace ever recorded. K-food exports first exceeded $10 billion in 2021, and the milestone has been reached earlier each year.\u00a0
The significance of this achievement lies not simply in the increase in export value, but also in the balanced growth of major and emerging markets, as well as processed foods and fresh agricultural and fishery products. By country, exports to the United States, the largest export market, totaled $1.81448 billion, up 12.9% from the same period last year. Exports to China reached $1.66966 billion, an increase of 14.0%. Exports to the United Arab Emirates (UAE) rose 49.9% to $331.71 million, while those to the Netherlands increased 14.4% to $229.55 million.
By product, K-ramen led the overall export growth, recording $1.3076 billion in exports, up 27.2%. Growing overseas consumer interest in Korean fruit also drove exports of strawberries and grapes, which increased 15.5% and 64.6%, respectively, to $60.98 million and $45.18 million. Among fishery products, seasoned seaweed, which has established a strong position in global markets, rose 8.0% to $462.65 million, while oyster exports increased 8.2% to $65.60 million, supporting the overall export growth.
The government and aT agreed to provide full support during the remainder of the year to achieve the highest export performance ever, focusing on the five BOOST tasks under the second-half strategy to maximize K-food export results. Jeon Gi-chan, aT's executive director for food exports, said, "Reaching $10 billion early is an achievement that demonstrates K-food's enhanced standing. We will expand the growth engines of K-food exports from a few hit products to 'a variety of promising products,' from 'major-market focused' to 'the entire world,' and from 'temporary interest' to 'sustained consumption.'"

[email protected] Choi Yong-jun, Agriculture Reporter Reporter