Exports of S. Korean beverage products soar to new high

By Park Sae-jin Posted : April 1, 2024, 17:56 Updated : April 2, 2024, 08:41
Courtesy of Binggrae
[Courtesy of Binggrae]

SEOUL, April 01 (AJU PRESS) - Exports of South Korean beverage products, including non-alcoholic drinks such as soft drinks and fruit-flavored dairy products, soared to a record $572.3 million in 2023. This surge in exports can be attributed to the growing recognition and popularity of South Korean products on the global stage.

The export volume of South Korean beverage products has seen a consistent upward trend since 2020, reaching new highs each year. The increasing popularity of "K-drinks" has been fueled by the widespread influence of South Korean entertainment content, particularly K-dramas and K-films, which often feature iconic beverages like banana-flavored milk and fruit juice with real fruit pieces.

Data released by the Korea International Trade Association on Monday revealed that beverage exports totaled $572.3 million last year, marking an impressive 11.5 percent increase compared to the previous year. Among the top importers of South Korean beverage products, China emerged as the largest importer with imports worth $121.5 million, followed by the United States at $83.3 million, and Cambodia at $53.8 million.

Lotte Chilsung Beverage, the beverage manufacturing arm of South Korea's Lotte Group, experienced a significant 21 percent year-on-year increase in exports. This growth can be attributed to the popularity of "Milkis," a soda-flavored soft drink, which gained immense traction in China and various Southeast Asian markets.

Similarly, Woongjin Foods witnessed a boost in exports, primarily driven by the success of their "Morning Sun Rice Drink," a beverage crafted from different rice types native to the Korean Peninsula. According to Woongjin Foods, the rice drink has garnered substantial sales in Viet Nam, contributing to over 40 percent of the company's overseas revenue.
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