K-food exports grow 8% annually in past 10 years
South Korea's exports of food, led by instant noodles, grew an average of 8 percent annually over the past 10 years on the growing global popularity of K-culture, a business organization said Thursday.
K-food shipments doubled to $7.02 billion in 2024 from $3.51 billion in 2015, with instant noodles, or "ramyeon" in Korean, leading the growth, according to a report released by the Korea Chamber of Commerce and Industry.
Ramyeon exports increased by an average of 20 percent a year in the past decade, helped by strong demand for K-pop and other K-content, as well as a growing preference for easy-to-cook and inexpensive meals amid an economic slowdown, the report said.
Last year, ramyeon topped other items with exports reaching $1.36 billion, followed by home meal replacement products at $980 million, beverages at $940 million and health functional foods at $820 million.
The United States, China and Japan were the top three importers of Korean ramyeon products last year.
In the US, some Korean food products, including Samyang Foods Inc.'s Buldak spicy ramyeon series, have landed on the shelves of Costco Wholesale and other major discount store chains, a KCCI official said.
"A combination of increased sales networks in major markets and aggressive marketing has helped drive up the demand for Korean instant-ramyeon products overseas," the official added. (Yonhap)
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