Korea's exports of processed rice products reach all-time high

South Korea’s exports of processed rice products reached an all-time high in 2023 amid growing global demand for convenient food options, according to government data and industry sources, Monday.

Data from the Korea Agro-Fisheries & Food Trade Corp. revealed that outbound shipments of processed rice products -- including instant rice, frozen gimbap and tteokbokki (spicy rice cakes) -- amounted to $217.2 million in 2023.

The latest figure represents a 19.5 percent increase from $181.8 million tallied in 2022, surpassing the $200 million threshold for the first time.

The upward trend of annual outbound shipments of processed rice products has been consistent since 2015, with figures rising from $54.3 million in 2015 to 89.4 million in 2018.

Particularly in 2019, the figure more than doubled to $185.9 million, marking the first time it crossed the $100 million threshold.

By country, the US accounted for over half of the total outbound shipments in 2023, with $114.8 million, or 52.8 percent.

Following the US were Vietnam with $15 million, the European Union and the UK with $14.9 million, Japan with $12.6 million and Australia with $7.1 million.

Government officials attribute the global popularity of processed rice products to their perceived health benefits and convenience.

"Processed rice products, such as instant rice and frozen gimbap, are gaining global traction, especially during and after the COVID-19 pandemic, as there was heightened interest in healthier, convenient foods," said an official from the Ministry of Agriculture, Food and Rural Affairs. "This surge in popularity is also attributed to their easy cooking steps and storage features."

Building on this success, the South Korean government unveiled its plan on Jan. 23 to drive up outbound shipments of processed rice products to $400 million by 2028.