South Korea's confectionery exports from January to November last year increased 16.5% year over year surpassing $700 million for the first time, according to Korea Customs Service.
South Korean Ministry of Agriculture, Food, and Rural Affairs explained that the popularity of Korean culture led to an increase in snack exports to China, the US, and Japan.
During the same period, the nation's beverage exports reached $600 million, up 14.9% year over year.
The combined export value of snacks and beverages is expected to reach $1.3 billion by December last year.
South Korea's snack and beverage companies are expanding overseas markets. Lotte Wellfood Co. selected the K-pop girl group NewJeans as the model of its signature Pepero and Zero brands to boost its brand awareness.
Orion Corp. is broadening its distribution channels for Turtle Chips in the US.
Crown Haetae Group built a new factory in Asan, South Chungcheong Province in May last year, following July 2022.
It plans to use the two factories, close to the Pyeongtaek Port, as a forward base for exports.
Write to Hyun-jin Ra at
raraland@hankyung.com
