Newsnomics AJAY ANGELINA reporter |
Kimchi, South Korean traditional side dish exportation reached all record high in 2023 from 44,041 tons to 41,118 tons 7.1% up than the previous year amid the rising popularity of Korean entertainment content around the world.
According to the data presented by the Korean Customs Service on January 21, South Korea exported 44,041 tons of kimchi in 2023, up 7.1% from 41,118 tons the previous year. It contains the value of US$155.61 million, up 10.5% from the previous year’s US$140.82 million, reaching a record high. However, it did not reach the previous record that was counted 42,544 ton with worth US$159.9915 million in 2021.
Kimchi exports experienced a significant surge last year, primarily attributed to the increased popularity of K-content," said an official from the Ministry of Agriculture, Food and Rural Affairs.
A total of 92 countries imported kimchi from Korea in the previous year logging the highest number on record including Japan, United States, Netherlands, Australia, the United Kingdom, Taiwan and Hong Kong.
Japan was the top destination for kimchi exports last year, accounting for 20,173 tons, followed by the United States with 10,660 tons and the Netherlands with 1,756 tons, the data showed.
While Australia and the United Kingdom round out the top five in terms of kimchi export amounts. Taiwan and Hong Kong, which until recently ranked third and fourth, dropped out of the top five in the standings.
On the other hand, the value of Korea’s kimchi imports stood at US$163.58 million counted 3.4% down in 2023 from the previous year.
The increase in Korea’s kimchi exports and decrease in Korea’s kimchi imports resulted in a US$7.95 million deficit in the kimchi trade balance with the deficit contracting by more than US$20 million from the previous year’s US$28.584 million.
Experts suggested that most of Korean consumers used imported Kimchi (made in China) because of high inflation in 2023.
Daesang was the top exporter of kimchi products, followed by CJ Cheiljedang and Pulmuone in South Korea.
The value of Daesang’s shipments of kimchi products in 2023 reached an all-time high of $83 million as well, 2.2 times higher than 2018, while its export value came to $37 million.
Kimchi is a traditional South Korean side dish typically made with fermented cabbage used in a variety of soups and stews and is eaten as a side dish with almost every Korean meal.