A Recap of Food Industry Production Value in South Korea, 2018
Sep 16, 2019
In 2018, South Korea’s food production scale reached 78.9 trillion (78.9 x 1012) South Korean Won (SKW), 5.1% higher than 2017.
Dietary habits in South Korea have undergone rapid change. Among all the food categories, the production of ready-to-eat prepackaged food increased the most.
Dairy production experienced a significant decline.
Imported beer, red ginseng products, and probiotic products are in demand.
According to market data released by MFDS on August 26th, 2019, South Korea’s food production scale reached 78.9 trillion (78.9 x 1012) South Korean Won (SKW), which is 6.67 billion US dollars, in 2018, 5.1% higher than that achieved in 2017, with an average annual growth rate of 3.7% recorded over the last three years. The food sector accounted for 16.3% of domestic manufacturing production value and 4.4% of South Korea’s GDP.
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