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In the first half of 2024, South Korea saw a 5.2% increase in exports of food and related goods, driven by the growing demand for instant noodles and processed rice products.
According to government data from the Ministry of Agriculture, Food and Rural Affairs, the country's outbound shipments of "K-Food Plus" reached $6.21 billion, up from $5.9 billion the previous year.
This category includes a wide variety of food products, from fresh and processed items to agricultural equipment.
Specifically, exports of instant noodles rose by 32.3% to $590.2 million, while processed rice products increased by 41.4% to $136.9 million.
The popularity of social media challenges featuring spicy products and the introduction of customized items by exporters were cited as contributing factors to the growth in instant noodle exports.
Additionally, South Korean rice products gained traction in the US market, particularly frozen gimbap, which attracted attention as a gluten-free and healthy eating option.
The US saw a 17% surge in imports from South Korea, reaching $736 million, driven by increased consumer spending, a stable labor market, and reduced inflation.
Meanwhile, exports to China increased by 3.1% to $702 million, with South Korean exporters utilizing online platforms and influencers to promote their products and shipments to Japan decreased by 7% to $671.3 million, attributed to the weakened purchasing power of Japanese consumers.
