K-Food Makes Breakthroughs in Southeast Asia and South America

Large K-food market worth more than KRW 4 trillion
Expected to grow to KRW 5 trillion within three years

Korea’s food industry is strengthening its expansion into Southeast Asia and South America. The industry predicts that if demand for K-food continues to increase amidst the K-content craze, K-food’s combined exports to Southeast Asia and South America will grow to KRW 5 trillion per year within three years.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT), combined exports of K-food to Southeast Asia and South America has risen from USD 2.13 billiion. (approx. KRW 3.136 trillion) in 2021 to USD 2.64 billiion. (approx. KRW 3.9204 trillion) in 2023, and USD 2.91 billiion. (approx. KRW 4.3213 trillion won) last year.
LOTTE Wellfood’s sales in Southeast Asia, which amounted to only KRW 41 billiion.in 2022, have increased every year, reaching KRW 76 billiion.in sales last year. The company aims to achieve KRW 95 billiion.in sales this year.

LOTTE Wellfood exports 110 brands and over 500 product items to 10 countries in Southeast Asia, including the Philippines, Thailand, and Malaysia. In South America, the company is focusing its efforts on expanding the sales network of Pepero ― mainly in Peru, Chile, Mexico, and Brazil.

Daesang is also focusing on expanding sales in Southeast Asia and South America. The company produces domestically and exports seasonings, kimchi, roasted seaweed, and convenience foods to 10 Southeast Asian countries. In Vietnam, it directly produces and sells Jongga Kimchi products at its kimchi factory in Hung Yen.
CJ CheilJedang is also accelerating its expansion into the Southeast Asian and South American markets. The company is exporting Bibigo dumplings, sauces, and food ingredients such as DASIDA, and in the Southeast Asian market, it is locally producing in each country and exporting as well. In Vietnam, over 90% of the products, which are produced in local factories, are being sold.
Samyang Food is exporting more than 20 kinds of Buldak Stir-Fried Noodle brands throughout Southeast Asia, including Malaysia and Indonesia. More than 20% of last year’s sales of KRW 1.55 trillion were yielded in the Southeast Asian market.

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