Exports of Korean Agri-Food Products Continued on Upward Trend 

to Reach USD 3.12 Billion in April 2024

Sejong, 20 May 2024 — On 2 May, the Ministry of Agriculture, Food and Rural Affairs (MAFRA) announced that the export value of 

Korean agri-food products* at the end of April 2024 reached USD 3.12 billion, up by 6.2% from a year earlier. The April’s 6.2% year-on-year growth 

was significantly sharper than the 3.6% YOY increase of the end of March.

* Agri-food products means processed and non-processed food products, excluding aquatic food products.

  * USD 6.1 billion in 2015 → USD 7.03 billion in 2019 → USD 9.16 billion in 2023 (up by 50.2% from 2015)

  * USD 2.87 billion in April of 2023 → USD 3.12 billion in April of 2024 (6.2% year-on-year growth)

As for exports by markets, exports of Korean agri-food products increased in the U.S., ASEAN countries, and Europe. Exports in major food items, 

such as instant noodles, processed rice food products, snacks, kimchi, etc., improved in the U.S., the largest market among single countries, 

as the nation’s economy is on a stabilizing trend. 

The ASEAN market recorded a 5.0% growth rate in exports. This was attributable to a global spread of Hallyu (Korean wave) having raised sharply 

the region’s consumers’ awareness of Korean foods (K-food), as well as increasing sales through new distribution channels such as a convenient store. 

The European market recorded the highest growth rate of 33.1%, driven by the popularity of Hallyu and recovery in consumer spending.

By contrast, exports to China decreased from a year earlier because of a continued slump in consumer spending, but the rate of exports decrease slowed 

from 7.2% in March to 1.8% in April. Exports to Japan saw a 5.7% decrease due to a depreciation of the yen and falling consumer confidence.

  * USD 479 million (15.9% YoY growth) in the U.S.; USD 452 million (5.7% YoY decrease) in Japan; USD 440 million (1.8% YoY decrease) in China; USD 631 million (5.0% YoY growth) in ASEAN; 

     USD 231 million (33.1% YoY growth) in Europe and the U.K; and USD 87 million (13.5% YoY decrease) in the G.C.C.

By food items, there was a large increase in exports of main export food products such as instant noodles, processed rice food products (including kimbap), 

beverages, and kimchi. In particular, sales of Korean instant noodles surged in the U.S., Europe, and other export markets thanks to aggressive marketing 

efforts taking advantage of the popularity of Hallyu. Processed rice food products, including precooked rice and frozen kimbap, are also on a steady increase 

in demand among overseas consumers, thanks to their growing interest in a healthy-eating diet and Hallyu. Likewise, kimchi is in growing demand 

as overseas consumers are becoming more interested in plant-derived and fermented foods.

  * USD 379 million in Korean instant noodles (34.4% YoY growth); USD 88 million in processed rice food products (42.1% YoY growth); USD 227 million in snacks (9.9% YoY growth); 

      USD 212 million in beverages (15.9% YoY growth); USD 10 million in grape (20.4% YoY growth); and USD 57 million in kimchi (6.8% YoY growth).

  * Korean instant noodles: USD 66 million in China (9.5% YoY growth); USD 64 million in the U.S. (83.0% YoY growth); and USD 65 million in Europe (46.8% YoY growth). 

  * Processed rice food products: USD 49 million in the U.S. (57.6% YoY growth); USD 10 million in ASEAN (6.6% YoY growth); and USD 7 million in Europe (65.0% YoY growth).

  * Kimchi: USD 16 million in the U.S. (27.6% YoY growth); USD 8 million in Europe (46.9% YoY growth); and USD 2 million in Canada (35.7% YoY growth).

The ministry is closely communicating with exporters to support continued growth in exports of Korean agri-food products. The ministry is also actively 

collaborating with relevant ministries to resolve on-site difficulties faced by exporters. 

In addition, the ministry organized the “Government-wide Consultative Body for Expansion of K-Food Plus Exports” to address challenges such as 

relaxation of food safety regulations and opening of overseas markets. Through the consultative body, discussions are underway to come up with ways 

for inter-ministerial collaboration to address such challenges. Specifically, the ministry is having discussions with the Ministry of Food and Drug Safety, 

regarding inter-governmental safety standards for processed livestock products; with the Ministry of Trade, Industry and Energy, regarding discovering 

overseas buyers; with the Ministry of Culture, Sports and Tourism, regarding Hallyu-based marketing; and with the Korean Intellectual Property Office, 

regarding response to counterfeit K-food products. To closely monitor progress in addressing such matters, the ministry will hold a meeting of the consultative 

body on a monthly basis.

Deputy Minister KWON Jae-han of the Agricultural Innovation Policy Office of the Ministry said: “Exports of agri-food products are continuing to grow, 

thanks to the efforts of Korean farmers and exporting companies. We will strengthen inter-ministerial collaboration to address on-site difficulties faced 

by exporters. We will also make full-blown efforts to expand Korea’s export market globally. To this end, we will work harder to discover new food 

products and provide support for opening up doors to new markets, thereby making sure continued export growth.”