South Korean exports of red pepper paste called "gochujang" soared to US$50.93 million in 2020, up 62.6 percent from 2016 and 35.2 percent from 2019, according to the Korea Agro-Fisheries & Food Trade Corp. data.
Meanwhile, outbound shipments of South Korean soybean paste "doenjang" also surged to US$11.72 million in 2020, up 44.8 percent from 2016.
The robust exports were attributed to the global popularity of Korean pop culture.
Exports of gochujang seem to have soared in recent years as more foreigners watched K-pop stars, such as BTS, and get added exposure to Korean culture on over-the-top services.
The Korean Wave generated by K-pop and TV dramas could turn fans in foreign countries into South Korean product consumers.
The US imported the most gochujang with a market share of 26.4 percent, trailed by China with 17.3 percent, and Japan with 10.3 percent.
The Philippines was the fourth top importer at 6 percent, while Canada accounted for 4.3 percent.


Nvidia Plans 2GW Australia AI Data Center Expansion by 2027
Enflame Shares Surge 200% in Shanghai AI Chip Debut
UK Food Inflation Forecast to Hit 6.4% by Mid-2027
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build
Oil Prices Surge as Middle East Shipping Attacks Threaten Supply
Optus Apologises After Network Outage Disrupts Emergency Calls
Fitch Eyes Japan Budget for Fiscal Discipline
Nvidia Eyes $10 Billion Investment in Anthropic IPO
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision
Huawei, Chinese AI Chipmakers Raise Prices as HBM Shortage Bites
Gold Prices Steady as Hot PPI Boosts Fed Rate Hike Bets
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates
Asian Currencies Subdued as Yen Weakens Ahead of Fed, BOJ Decisions
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota
Norway Core Inflation Rises to 3% in August
Novartis M&A Strategy Faces Investor Scrutiny After Drug Setbacks 



