Value context and insight. lkm@koreatimes.co.kr
Kimchi exports up 20 percent in H1 on robust demand from US, EU
People make kimchi at an event organized by K-Biz SME Love Sharing Foundation in Yeouido, Seoul, Nov. 28, 2022. Yonhap
By Lee Kyung-min
By Lee Kyung-min
Exports of kimchi in the first six months of this year exceeded $80 million (104 billion won) for the first time, an increase of more than 20 percent compared to the annual average, and up 4.8 percent from a year ago, the food ministry said Sunday. It registered a trade surplus of $1.7 million in the same period.
Propelling the solid growth is a robust demand for the healthy Korean traditional dish in the U.S. and European Union.
The Ministry of Agriculture, Food and Rural Affairs said exports of kimchi in the first half came to $81 million, up from the previous year's $77 million. The figure is an increase of 20.3 percent from the annual average of $67 million.
The trade surplus of $1.7 million is a significant rebound from the trade deficit of $7.5 million in the January-June period of last year. The figure registered a robust $18.3 million trade surplus in the first half of 2021.
Exports in the first six months of this year increased to 23,000 tons, up 3 percent from 22,000 tons last year.
The U.S. imported $20.2 million worth of Korea-made kimchi in the first half of this year, up 22.7 percent from the previous first half.
Exports to Europe came to $9.1 million in the same period, up 3.2 percent from the previous year.
Japan imported $33.8 million worth of kimchi, up 2.7 percent from a year ago. China and Southeast Asian countries imported $5.7 million and $3.9 million worth of Korea's traditional dish, down 19.8 percent and 7.9 percent from the previous year, respectively.
The ministry said the country will seek to achieve $300 million in kimchi exports by 2027, as underpinned by innovation-driven super-gap competitiveness over Korea's kimchi-making peers, most notably China and Japan.
Among other strategies are outlining policy assistance to expand exports, stabilize supply and demand of high-quality ingredients and promoting health benefits and values of kimchi consumption.
The country will introduce vegan and low-salt kimchi varieties and develop technologies to ensure fresh delivery.