S. Korea's farm exports reach record US$4.4 bln in 2008

SEOUL, Jan. 15 (Yonhap) -- South Korean farm exports surged to a record US$4.4
billion in 2008, fueled by solid overseas demand for locally grown produce and
processed food, a government report said Thursday.

The provisional report by the Ministry for Food, Agriculture, Forestry and
Fisheries said exports grew 17.2 percent on-year, the highest gain since a 20.9
percent increase tallied in 1988, when the country hosted the summer Olympics.
It said that while the total fell shy of the $4.5 billion target set in October,
the gains far exceeded the average 5.9 percent increase reached in the past five
years.
The ministry said that while the U.S. financial crisis and the global economic
slump in the fourth quarter caused most exports to plummet, outbound shipments of
farm products gained more than 10 percent.
Exports of most products rose compared to the year before, with the steepest
gains being reported for flowers, fruits, mushrooms and processed foods like
stewed chicken soup and soy sauce.
Other products like kimchi, ginseng, paprika, various noodles and liquor
continued to expand market share abroad.
By country, exports to Japan jumped 19.7 percent to just under $1.5 billion,
while those to the 10-member Association of Southeast Asian Nations shot up 32.2
percent to $454 million. Gains were also reported for China and Russia.
The ministry, meanwhile, said that it is aiming to export $5.3 billion worth of
farm products this year, with the total to be raised to $10 billion in 2012.
yonngong@yna.co.kr
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