Korean Snack Exports Soar! 15.4% Year-on-Year Surge, $700 Million Record May Be Broken, Beware of Market Bubble Risks!

Yonhap News Agency Seoul, September 23, according to the latest data released by the Ministry of Agriculture, Forestry, livestock and Food (referred to as the Ministry of Agriculture and Food) on the 23rd, from January to last month, South Korea's snack products exports increased by 15.4%, reaching 494.2 million US dollars. This data shows that the export performance of South Korea's snack products is quite strong.

Specifically, from January this year to the second week of this month, South Korea's snack products exports have reached 529.1 million dollars. If the current growth trend continues, exports for the whole year are expected to hit a record high. Looking back at 2018, South Korea's exports of snack products were $431.4 million, while last year the figure had grown to $656.4 million. The Ministry of Agriculture and Food predicts that the export of snack products in Korea will exceed 700 million dollars for the first time this year. In addition, some industry insiders are optimistic that this year's exports are expected to reach 1 trillion won (about 5.3 billion yuan).

According to the ministry of Agriculture and Food, the popularity of Korean pop culture content around the world has largely driven the export growth of Korean snack products. Various snack products introduced by Korean companies not only meet the needs of local consumers, but also play a positive role in increasing exports. These products, with their unique taste and high quality, have won the favor of consumers around the world, thus boosting the export growth of South Korea's snack products.