Kimchi Export Hits Record High... Promising Market is 'Japan'

Japan Exports Increase by 28%... Korean Products Hold 19.6% Market Share

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[Asia Economy Reporter Hwang Yoon-joo] Following the increase in demand for fermented foods after the outbreak of the novel coronavirus disease (COVID-19), South Korea's kimchi exports have reached an all-time high.

According to the "Promising Items AI Report - Kimchi" released on the 6th by the Korea International Trade Association's International Trade and Commerce Research Institute, South Korea's kimchi exports up to October 2020 increased by 36.4% compared to the same period last year, reaching a record high of $119.09 million. In terms of volume, it surpassed 32,000 tons for the first time ever.

As a result of AI analyzing nine indicators across 58 major countries, the markets with high export potential for kimchi were Japan (81.3 points), Germany (79.5 points), and Hong Kong (79 points), in that order.

Japan's import market size for "prepared or preserved vegetables including kimchi (HS 200599)" was $368 million, ranking second after the United States at $520 million. Additionally, as of October last year, the Japanese market accounted for 49.9% of South Korea's kimchi exports, with export value increasing by 28% year-on-year to $59.48 million. The market share of Korean products in Japan's import market steadily rose from 13.4% in 2017 to 19.6% in 2020, receiving favorable evaluations.

The report stated, "Exports to the United States (56.3%), Hong Kong (50.4%), Australia (64.7%), and Singapore (85.4%) also increased significantly by more than 50% compared to the same period last year," adding, "This is interpreted as a result of increased interest in healthy foods due to COVID-19 and the Korean Wave effect from groups like BTS."

Jo Eui-yoon, a researcher at the Korea International Trade Association, said, "Despite the controversy over the 'Kimchi International Standard' with China, Korean kimchi is appearing on tables worldwide, solidifying its status as the country of origin," and added, "As demand for kimchi, recognized as a health food, is expected to continue growing, if efforts to localize products and improve quality are carried out simultaneously, exports will continue to expand."

This content was produced with the assistance of AI translation services.