South Korea’s food exports climbed 10% on-year to $7.26 billion in 2024, led by ramen, ready-to-eat meals and seasoned seaweed, according to government data on Thursday, highlighting continued global demand for Korean packaged foods.
Food exports accounted for just under one-tenth of the country’s food output of 114.83 trillion won ($83.1 billion) in 2024, which rose 5.8% from the year prior, according to the Ministry of Food and Drug Safety and the Korea Food Safety Information Service.
The food industry represented 4.5% of the country’s gross domestic product of 2,549.1 trillion won in 2024, and 16.8% of total manufacturing output, which stood at 684.6 trillion won.
By segment, processed foods including additives and packaging accounted for 74.3 trillion won in production last year, followed by livestock products at 37.8 trillion won and health functional foods at 2.76 trillion won, according to the data.
Within the food segment, ready-to-eat and convenience meals topped production at 5.89 trillion won in 2024, followed by sauces at 4.96 trillion won and bakery products at 3.75 trillion won.
Exports of health functional food such as vitamin and mineral supplements rose 12.2% on-year to $278.6 million, marking the second consecutive year of double-digit growth.
CJ CheilJedang Corp. led the sector with 2.84 trillion won in output. Other major Korean food producers were Nongshim Co., Lotte Chilsung Beverage Co., Ottogi Co. and Lotte Wellfood Co.
By Yeonhee Kim
yhkim@hankyung.com
