South Korea will begin exporting its traditional ginseng chicken soup “samgyetang” to China from next month, as the two countries have reached an agreement on the trade deal, the Korean Agriculture Ministry said Sunday.
The Ministry of Agriculture, Food and Rural Affairs said the two governments have concluded talks on related food regulations including those on quarantine and sanitation, making way for Korea to start exporting its chicken soup to China.
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A bowl of samgyetang (Yonhap) |
Once local chicken and samgyetang producers complete the necessary customs procedures, they can begin exporting their samgyetang products to China starting from as early as June, the ministry said. For now, 11 local companies have registered with the Chinese government.
“The entry of Korean samgyetang to China signifies not only an expansion of trade ties between the two countries, but also the successful implementation of the Korea-China free trade agreement,” the ministry said in a statement.
The Korean government has been pushing for the export of samgyetang since 2006, but progress had been slow due to quarantine and sanitation issues.
Samgyetang, widely consumed as an energy-boosting meal here, is made by boiling a whole young chicken stuffed with ginseng, glutinous rice, garlic and jujube. When exported, the soup is precooked and shipped in cans and other packaging.
The ministry expects Korea to export some $3 million worth of samgyetang to China in the first year of sales. In 2015, Korea exported $9.5 million worth of samgyetang, totaling around 2,080 tons, to the U.S., Taiwan and Japan, it said.
Meanwhile, the ministry’s Sunday announcement also prompted the stock price of Korea’s leading chicken and samgyetang manufacturers to soar on Monday, garnering attention from investors.
Top Korean chicken manufacturer Harim’s stock price surged 24.11 percent to close at 5,560 won ($4.65) on Monday. Other local chicken producers Maniker and Dongwoo saw their stock prices rise by 29.91 percent and 9.49 percent, respectively.
By Sohn Ji-young (
jys@heraldcorp.com)
