Korea's Kimchi Trade Deficit Grows

      May 18, 2015 12:36

      Korea's staple dish kimchi is generating more and more losses amid a glut of cheaper Chinese kimchi and declining exports to Japan.

      According to Korea Customs Service data, Korea's kimchi trade posted a US$11.38 million deficit in the first four months of this year, up from a $5 million deficit over the same period last year.

      Korea was previously able to make up for the losses from rising imports of Chinese kimchi by boosting exports to Japan, but now the yen is too weak and Korean products are losing appeal.

      Korea imported 70,000 tons of Chinese kimchi from January to April but sold only 5,342 tons to Japan, down 25 percent on-year. Making matters worse, Japanese food companies have started to make their own kimchi to meet demand there.

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