South Korea’s food product exports rose by an annual average of eight percent over the past decade, on the back of strong exports of instant noodles and health foods.
According to a report from the Korea Chamber of Commerce and Industry on Thursday, outbound shipments of K-food products grew from three-point-51 billion dollars in 2015 to seven-point-02 billion dollars in 2024.
Annual growth soared from five-point-nine percent for the 2015-2019 period to nine percent for the 2020-2024, for an annual average of eight percent.
Instant noodles, or ramyeon, saw the largest growth over the past ten years with an annual average of 20 percent, followed by health foods at eleven-point-nine percent and dried seaweed at eleven-point-three percent.
Last year ramyeon outsold all other food items, with ramyeon exports amounting to one-point-36 billion dollars.
Home meal replacement products were next, followed by beverages and health foods.
The largest market for South Korean food products last year was the United States, followed by China and Japan.