Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Korea's trade in pet care items reaches all-time high
Puppies wearing outfits sit on a cushioned pet cart during an exhibition of pet items at Seoul Trade Exhibition & Convention (SETEC) in southern Seoul in this photo taken in September 2021. Korea Times file
By Yi Whan-woo
By Yi Whan-woo
Korea's trade in pet care items has reached an all-time high this year ― through September ― according to the Korea Customs Service (KCS), Friday, amid a booming pet industry here backed by a growing number of pet-owning households.
The KCS said the nation's exports of pet care-related items from January to September amounted to $116 million, up 56.1 percent from the same period in 2021.
With two months remaining in 2022, the exports so far this year already set a new record, surpassing the previous high of $110 million for the entirety of 2021.
By item, outbound shipments came in at $61 million for packaged food for cats, $47 million for packaged food for dogs and $8 million for pet apparel, cushions, and accessories including leashes and collars.
By destination, Japan accounted for the largest amount of $4.5 million, or 39 percent, trailed by Thailand with $1.7 million and Australia with $1.5 million.
The imports during the January-September period increased by 17 percent year-on-year and surged to an all-time high of $291 million.
Packaged foods for dogs totaled $167 million to top the inbound shipment list, followed by packaged foods for cats worth $100 million and accessories worth $24 million.
China accounted for the largest amount of $99 million, followed by the United States with $55 million and Thailand with $34 million.
“Spending on pet items is apparently growing as more people think of animals as members of their families and increasingly care about them,” the KCS said.
About 30 percent of households responded that they have pets, according to a 2021 KB Financial Group survey. Of the respondents, 88.9 percent said they think of pets as family members and treat them accordingly.