POST Online Media Lite Edition


South Korea H1 2022 records historical high of $6.21 billion in agricultural and fishery food exports

Christian Fernsby |
South Korea recorded USD 6.21 billion in agricultural and fishery food exports in H1 2022, a 14.6% increase year-on-year.

Article continues below

This is a record high for both agricultural food and seafood* in their respective first half performance.

* H1 exports of agricultural food(100 million dollars): 36.0(2020)→41.8(2021)→45.0(2022)
H1 exports of seafood(100 million dollars): 11.0(2020)→12.5(2021)→17.1(2022)

The growth of agro-food exports was led by rice-processed food, ramyeon, snacks, and beverages, supported by the spread of the Korean wave, steady popularity of K-Food, and local efforts to overcome logistics challenges, despite difficult external factors, including the prolonged Russia-Ukraine conflict, continued global logistics crisis, and the tighter quarantine measures against COVID-19 in China.

* H1 exports by item(million dollars): rice-processed foods (90.4, 13.3%↑), ramyeon (383.7, 20.0%↑), snacks (314.6, 11.5%↑), beverages (277.9, 8.9%↑)

Rice-processed foods were popular mainly in the US, including items such as instant rice, tteokbokki, and makgeolli (rice wine), backed by the continued demand for home meal replacements and interest in the food and the food culture of Korea.

* Exports by country: United States markets totaled USD 43.1million (32.9%↑) New Southern markets totaled USD 16.1million (3.2%↑)

The growth of ramyeon exports was supported by the popularity of the diverse products (such as spicy and halal ramyeon) in Vietnam, the world’s number one ramyeon consumer, and many other countries across the world, and their expanded penetration of various distribution channels, such as large retail stores, convenience stores, and online malls.

* Exports by country: Chinese markets totaled USD 91.9million (34.9%↑)
New Southern markets totaled USD 72.2 million (22.2%↑)
United States markets totaled USD 47.9 million (28.3%↑)

The demand for beverages increased mainly in the Southeast Asian countries following the increase in outdoor activities, and exports grew on top of the popularity of healthy drinks, made with aloe vera, fruit syrup, and tea.

* Exports by country : New Southern markets totaled USD 93.4 million (21.9%↑) United States markets totaled USD 54.6 million (33.7%↑)

Fishery food exports also exhibited growth in most of their key products, including the Korean seaweed Gim, toothfish, and abalone, despite external challenges, and successfully recorded a historical high in its H1 performance*.

* Gim: 375.9 million USD (13.8%↑), Toothfish: 56.4 million USD (117.31%↑), Abalone: 29.0 million USD (43.7%↑)

Laver seaweed, currently ranked number one in seafood exports with 114 destination markets, continues to steadily grow its exports, based on the development of its many variants, including dried gim for processing, seasoned gim for side-dishes, and gim snacks. The seaweed is expected to become the first seafood item to reach annual exports of more than USD 700 million.

* Gim exports in H1 (million dollars): 286.8 (2020)→330.4(2021)→375.9(2022)

Exports of toothfish, a deep-sea fish caught by Korean fishing boats in the Antarctic Ocean known for its taste and nutritional value, have shown rapid growth in the US.

* H1 toothfish exports in the US(million dollars) : 17.0(2020)→21.3(2021)→46.7(2022)
* H1 Toothfish price (per kg):17.7(2021)→31.4(2022) (77.4%↑)

With increased awareness of its status as a healthy food, live abalone exports to Japan and Vietnam are growing, while more exports of frozen processed abalone are expected, mainly to the US.

* H1 abalone exports to Japan (million dollars):13.9(2020)→14.7(2021)→21.8(2022)(48.2%↑)
* H1 abalone exports to Vietnam (million dollars):1.6(2020)→1.82(2021)→3.85(2022)(111.1%↑)

As fresh agricultural products will commence their full-fledged shipments in H2, MAFRA plans to be fully committed to enhancing the quality and safety from the production stage, stabilizing the logistics by securing shipping vessels and aircraft dedicated to agricultural food exports, while strengthening customized marketing strategies for each individual country based on their respective environment to further expand exports.

One of its actions was to start earlier this year the quarantine process and systematic preparation of the logistics and marketing for fresh pears (early produce), considering that Chuseok, Korean Thanksgiving Holidays, comes earlier than the previous years, to ensure seamless exports to the US, the major export destination.

As strawberries and grapes are sold at the highest possible quality in the Southeast Asia and Greater China regions, Korea intends to grow its exports by targeting the demand for gifts, by expanding its presence in high-end retail shops, and by developing and piloting new variants preferred by overseas consumers.

Exports of flagship traditional foods, including kimchi and fermented soybean pastes, will continue by promoting the efficacy of fermented food, enhancing marketing efforts in line with Korean content, and by developing various recipes based on the food ingredients that go well with the local cuisine.

Meanwhile, as the global logistics disruption has persisted since the pandemic, the ministries will continue to resolve difficulties faced onsite, by collaborating with Korean-flag shipping companies to secure and safely operate vessels dedicated to agricultural food and air freight operators dedicated to shipping strawberries, while providing support for Chinese importers in terms of customs clearance and logistics following the tightened COVID-19 quarantine measures imposed on imported foods.

MOF plans to strengthen local marketing overseas to continue the export growth witnessed in fishery food during H1 into H2, work towards securing new transaction channels, and provide support for the export sector that is currently facing challenges due to increases in logistics expenses.

What to read next

Korea's agricultural exports to U.S. jump nearly 10%
South Korea to cull 120,000 poultry over bird flu
South Korea files appeal against WTO ruling on Fukushima seafood ban

U.S.: More than 40 million under threat for severe storms, tornadoes could happen

Severe storms could deliver tornadoes, damaging winds and hail from the Gulf Coast to the Midwest from Tuesday afternoon into early Wednesday.


New York: Historic arts funding to record number of artists and organizations
Macron: U.S. gas 3-4 times more expensive for us, those are double standards
Thank you, inflation: Record Cyber Monday spending
HSBC to sell Canadian unit to Royal Bank of Canada for $10.1 billion


Poland: Criminal group extorted money making advantage of COVID situation

UK: Christmas chaos ahead as Wiltshire parking wardens announce further strikes
Italy: 8 dead, several still missing after deadly Ischia mudslide
South Korea issues return-to-work order to truckers on strike
U.S.: Winter weather conditions for west, severe weather potential for south on Tuesday
World's largest volcano Mauna Loa erupts


One in four U.S. workers still fear catching COVID at work, modest winter surge expected

No vessels left Ukrainian ports on November 28 due to adverse weather
Swedish nuclear reactor to be taken off-grid for repairs
UN and ILO must urgently intervene as South Korea weighs forcing striking drivers back to work, says ITF
More internationally educated family doctors on the way to British Columbia
Department of Health in South Africa to conduct feasibility study on implementing solar panels in hospitals

Trending Now

U.S.: More than 40 million under threat for severe storms, tornadoes could happen

Saudi Arabia unveils masterplan for mega Riyadh airport project

New York: Historic arts funding to record number of artists and organizations

One in four U.S. workers still fear catching COVID at work, modest winter surge expected


Tánaiste announces major change for small Irish companies

Commission approves €557 million German support to compensate Deutsche Bahn
Belgian government offers one-off tax-free bonus
Health minister discusses cooperation with French companies for manufacturing in Libya
Saudi Arabia unveils masterplan for mega Riyadh airport project
EU Parliament insists that EU must freeze funding to Hungary

Today We Recommend

One in four U.S. workers still fear catching COVID at work, modest winter surge expected


HSBC to sell Canadian unit to Royal Bank of Canada for $10.1 billion

Apollo Endosurgery to be acquired by Boston Scientific, enterprise value $615 million

AstraZeneca to acquire Neogene Therapeutics for up to $320 mln


Apollo Endosurgery to be acquired by Boston Scientific, enterprise value $615 million

Sibanye-Stillwater begins construction of lithium hydroxide refinery in Finland
Bechtel to build Intel's semiconductor manufacturing facilities in Ohio
Biocytogen Pharmaceuticals enters antibody agreement with ADC Therapeutics
BT announces plan for pay rise of up to 16% for all but highest paid
AstraZeneca to acquire Neogene Therapeutics for up to $320 mln


Former UK CMA CEO Andrea Coscelli to join Keystone

US Foods appoints Dave Flitman as CEO
G Mining Ventures appoints Carlos Vilhena to board
Criterium Energy appoints David Dunlop as director
Arthex Biotech appoints Frédéric Legros as chairman
Promontory Therapeutics appoints Stanley J. Musial as CFO


Switzerland's GDP grew by 0.2% in Q3 of 2022

Mexico's exports grow 19.5 pct
Trade between Bulgaria, North Macedonia to exceed EUR 1 Bln in 2022
EU trade with Indo-Pacific region
EU green energy product imports in 2021: 15.2 billion euros
Czech Republic: Economic sentiment ticks up in November


Natuzzi Q3 revenue increased 14.5%

CMA CGM Q3 revenue $19.9 billion
G. Willi-Food Q3 sales increased by 16.6%
Deere Q4 net income $2.246 billion
Nordstrom Q3 net loss $20 million
VMware Q3 revenue $3.21 billion


Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?


Colombian minister announces short and medium-term measures to help rural producers affected by winter weather

Third stage of vaccination against classical swine fever starts in Brazilian state Alagoas
Australia's fish stocks stable and steady
Australia pledges AUD 2 million to WTO Fisheries Funding Mechanism
Pesticide sales jump by 17% in Switzerland
Tesco announces close to £14 million of additional support for British egg industry


Corporate duty waivers limit organic company growth and innovation

Women buy from women, men buy from women and men
How employee opinion impacts CEO dismissal
Keeping it in family can be good news when it comes to CEOs
Over a third of office workers are hybrid 'misfits'
Proxy advisers have inherent incentive to create controversy, study shows


Meta Ireland fined 265 mln euros for data breach

Ukraine fines Engie, Shell subsidiaries over Nord Stream 2
New Zealand fines Southland fishing company $40,000
Italy's antitrust fines Edison Energia 3.8 mln euros over unfair practices
FTC secures monetary judgment in deceptive energy savings claims case
Croatian Competition Agency fines dairy processing company PIK Rijeka $13,740 for imposing unfair trading practices



Weather-resistant ArtWalk Downtown Billings, Montana

Dual branded Courtyard and Residence Inn by Marriott Hotel opens in Montreal
Candlewood Suites Hotel opens in Aberdeen, Md.
Mount Roraima, Venezuela, 7,671 feet above the forest floor
Llao Llao Resort, an exclusive resort in the middle of nowhere
Abu Dhabi welcomes visitors to discover experiences at their own pace


New colorful Porsche 718 Style Edition models

2023 Toyota Prius Prime, solar panel roof and reliability
Volvo EX90, a car with updates
Cessna Citation CJ4 Gen2 jet, pursue your business goals while enjoying journey
GMC first Sierra EV marks turning point
BMW M2, fast beast in small package


Patchwork carpets, vintage Persian carpets made with unparalleled skill

Real life wallpapers, perfectly executed
A. Lange & Söhne, men's watches with true Saxonian DNA
Nella Vetrina, luxurious Italian designers bathroom vanities and furniture
Karastan rugs, durable and beautiful
Leather bags for every occasion and every life style


Take Elektor Fortissimo and make your own high-end amplifier

RangeXTD, a Wi-Fi extender that actually works
Monitor II A.N.C. headphones, iconic Marshall sound
Zebra TC15, a clever mix of a mobile phone and a computer for business use
Bathroom speakers will make your relaxing even better
NAD 399 amplifier, highly efficient and remarkably powerful


Strong recommendation for pyronaridine-artesunate in revised WHO Malaria Treatment Guidelines

Pakistan launches anti-polio vaccination drive to inoculate 13.5 mln children
Ibuprofen and similar NSAIDS can be associated with hastened progression of osteoarthritis symptoms
Virgin Islands community encouraged to prevent antimicrobial resistance
Shionogi seeks Japan approval for COVID-19 vaccine
French doctors warn of antibiotics shortage


Astrophysicists hunt for second-closest supermassive black hole

New European supercomputer inaugurated in Italy
European Space Agency presents new generation of astronauts
NASA selects Rocket Lab to launch TROPICS mission
World's heaviest flying bird heals itself with plants used in traditional medicine
James Webb Space Telescope reveals an exoplanet atmosphere as never seen before