Yonhap News Agency, Seoul, January 6th. According to statistics released by the International Trade and Economic Cooperation Committee of the Korea Trade Association on the 6th, as people’s demand for fermented foods that help improve immunity increases during the epidemic, the first 10 months of 2020 The export value of Korean kimchi increased by 36.4%year-on-year to US$119.09 million, a record high.
Data shows that from January to October last year, Japan accounted for 49.9%of South Korea’s kimchi exports, and exports to Japan also increased by 28%year-on-year to 59.48 million US dollars. The market share of Korean kimchi in the Japanese market has gradually increased from 13.4%in 2017 to 19.6%last year. In terms of the growth rate of kimchi exports, exports to Singapore increased by 85.4%year-on-year, followed by Australia (64.7%), the United States (56.3%), and Hong Kong (50.4%).
According to the results of artificial intelligence analysis of the indicators of 58 countries and regions, in terms of potential kimchi export markets, the Japanese market scored the highest (81.3 points), followed by Germany (79.5 points) and Hong Kong (79 points) ).
According to the association, after the outbreak of the new crown epidemic, people’s attention to health has further increased, and Korean stars such as the Bulletproof Youth League (BTS) have led the global Hallyu boom. These factors have led to a sharp increase in the export of Korean kimchi. (End)