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.


Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns
Instagram Outage Disrupts Thousands of U.S. Users
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 



