Kimchi, South Korea's popular traditional side dish, reportedly hit a new all-time high record for imports. The new high record was set in October despite the inflation in the country that is getting out of hand already.
Based on the government data that was shown to the public on Wednesday this week, the inbound shipments of the spicy kimchi side dish made a record $17.02 million in October. The Korea Customs Service said this result shows a 50.9% increase compared to 2021 in the same period.
In comparison to the September records, the number also showed an increase of 16.2%. This is the first time that the country’s monthly imports of kimchi were able to go past the $17 million mark. According to Yonhap News Agency, the record surge in kimchi imports last month was related to the increasing prices of cabbage which is the main ingredient.
It was noted that prices of other ingredients for making kimchi have also gone up that even the local restaurant owners were forced to buy cheaper imports from other countries that also produce the side dish. Some families are also shifting to cheaper brands that were made overseas.
Daesang FNF and other leading kimchi manufacturers in South Korea have also raised their prices by as much as 10% in September and October. All of them cited inflation and rising costs. These price hikes are the second time this year.
Meanwhile, Korea is celebrating its third Kimchi Day next week and it is expected to be celebrated in many nations as well due to its increasing popularity around the world. Aside from the spread of Kpop and K-culture, the published health benefits from kimchi is another reason why it is being patronized outside of Korea.
The Korea Times reported that even the states of New York, California, Virginia, and the District of Columbia have declared Nov. 22 as their own Kimchi Day. Meanwhile, for this year’s festivity, it will be celebrated at Namsangol Hanok Village in Seoul on the same day as overseas. People can expect a kimchi cooking competition and other activities at The Plaza Seoul hotel as well.
Photo by: Jeong HO Suh/Pixabay


LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React
U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism
Russia Stocks End Flat as Energy Shares Support MOEX Index 



