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by IANS |
Seoul, Jan 12 (IANS) South Korea's exports of food and agriculture-related products reached a record high of $13.62 billion in 2025, driven by the global popularity of Korean food products, such as "ramyeon" noodles, sauces and fruits, the agriculture ministry said on Monday.
Exports in the "K-Food Plus" sector expanded 5.1 percent from a year earlier to the new annual high, according to the Ministry of Agriculture, Food and Rural Affairs. K-Food Plus is a term coined by the local government to promote exports of Korean food and agricultural goods, including farm machinery and veterinary medicine, reports Yonhap news agency.
In detail, outbound shipments of agricultural and food products rose 4.3 per cent on-year to $10.41 billion, surpassing the $100 billion mark for the first time and marking the 10th consecutive year of on-year increase.
Exports of agriculture industry-related products, such as farm machinery and veterinary medicine, jumped 8 percent on-year to the highest-ever figure of $3.22 billion last year, according to the ministry.
The ministry attributed the strong performance in food exports to record outbound shipments of Korean instant noodle products, also known as "ramyeon," and 11 other products, including sauces, kimchi, ice cream, strawberries and pork.
Ramyeon exports hit $1.5 billion for the first time, surging 21.9 per cent from a year earlier, while exports of sauces climbed 4.6 per cent to $411.9 million.
Shipments of ice cream jumped 21.6 per cent to $111.3 million and grape exports soared 46.3 per cent to $84.7 million. Exports of strawberries grew 4 per cent to $72 million.
Meanwhile, the South Korean central bank is widely expected to keep its policy rate unchanged this week in a bid to support the weakening currency and ease an unsettled property market, a poll showed on Monday.
According to a survey by Yonhap Infomax, the financial news arm of Yonhap News Agency, all 25 local analysts and experts polled said the Bank of Korea (BOK) will leave its benchmark rate unchanged at 2.5 per cent at its policy meeting Thursday.
A separate Yonhap News Agency survey of six additional experts also found unanimous expectations for a rate freeze this month.
The BOK's Monetary Policy Board has held the key rate steady for four consecutive meetings through November, though the central bank entered an easing cycle in October 2024.
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