According to South Korea's ** report, although the export volume of South Korean kimchi will increase in 2023, in the cost-effective competition, Chinese kimchi will gradually gain the upper hand. According to the latest data from the Korea Customs Administration, from January to November this year, the export value of South Korean kimchi was 14.2 billion US dollars, while the import value is as high as 1$5.1 billion, with a deficit of more than $8.8 million.
Analysts pointed out that the main reason for the decline in the deficit was that China's bubble menu prices continued to decline, while the actual import volume increased by 95%。This trend has sparked concerns in South Korea, who fear that the kimchi deficit could widen further in the future.
Korean kimchi is well-known around the world and is loved by consumers for its unique taste and quality. However, Chinese kimchi is gradually gaining an advantage in terms of cost performance, which has brought a lot of challenges to the Korean kimchi industry.
Faced with this competitive situation, the Korean kimchi industry needs to re-examine its market strategy. Strengthen quality management, innovation and research and development, and marketing to improve their competitiveness. At the same time, it is also necessary to pay attention to the changes in consumer demand and continuously optimize the taste and quality of products to maintain its position in the global market.
Local kimchi is too expensive, and Koreans stock up on Chinese kimchi