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Korean wave fuels snack exports to Southeast Asia, Middle East
According to Pulse by Maeil Business News Korea

South Korea’s packaged snack food exports soared 78.5 percent to $252 million as of 2015 from 2011 as popularity of Korean entertainers and TV programs whetted appetite for Korean food brands in Southeast Asian and the Middle Eastern countries, government data showed Monday.

The Ministry of Agriculture, Food and Rural Affairs said on Monday that the country’s snack exports have surged from $141 million in 2011 to $252 million in 2015. By country, snack exports to Singapore soared 316.7 percent, followed by Malaysia (297.7 percent) and the Philippines (194.8 percent). Exports to the Middle East also jumped significantly - 141.8 percent rise in Saudi Arabia and 60.7 percent gain in the United Arab Emirates.

The ministry attributed the surge in exports of Korean snacks to growing popularity of Korean entertainers and pop culture referred as Hallyu, or the Korean Wave, in Southeast Asia and the Middle East.

With steady rise in demand for Korean products on growing popularity of Korean pop culture and entertainers in Southeast Asia and the Middle East, the Korean government is expected to aggressively seek ways to boost its exports of the regions.

Meanwhile, Korea’s total snack market reached 3.35 trillion won ($2.93 billion) by shipment volume in 2015, jumping 30.4 percent from 2011, according to data. By product, sweet bean jelly and jelly products showed growth of 164.9 percent and 135.6 percent over the same period, while candy, caramel and gum fell 25.7 percent, 71.7 percent and 31.7 percent, respectively.

By Seo Dong-cheol

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (Mar. 13, 2017)

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