[linkUrl] => [reporter] => Array ( [0] => Array ( [id] => jhlee20 [email] => jhlee20@hankyung.com [dept] => [name] => 이재하 ) ) [orgMedia] => [viewTmp] => [imageFile] => Array ( [0] => Array ( [mediaId] => ked202106100012 [mediaPath] => /data/ked/image/2021/06/10/ked202106100012.png [caption] => [mediaWidth] => 690 [mediaHeight] => 460 [mediaSize] => 559197 [watermarkPlace] => 0 [orgName] => Thumb.png [ext] => png [type] => image ) ) [series] => [oldtags] => [oldkeyword] => [isEmbago] => [movieInfo] => Array ( [0] => ) [inMovie] => [region] => [assetClass] => [aum] => [fundSize] => [fundRaising] => [hidden] => [unicorn] => [status] => Array ( [us] => publish ) [permission] => [tags] => [mainPlace] => [mainextYN] => N [memo] => Array ( [us] => ) [placeNum] => [modifier] => Array ( [us] => jhlee20 ) [modifyName] => Array ( [us] => 이재하 ) [modifyDate] => Array ( [us] => 2021-10-14 17:18:14 ) [isDelete] => Array ( [us] => ) [keyword2] => Array ( [us] => Monthly trade infographics ) [tags2] => Array ( [us] => Array ( [0] => Petroleum [1] => products [2] => infographic ) ) [category] => Array ( [0] => Array ( [categoryID] => ked004000000 [categoryName] => Markets ) ) [isDesked] => [firstPublishDate] => Array ( [us] => 2021-06-11 15:03:17 ) [publishDate] => Jun 11, 2021 (Gmt+09:00) [publisher] => Array ( [us] => jhlee20 ) [published] => Array ( [us] => 1 ) [code] => [source] => [publishMedia] => Array ( [us] => Array ( [lexis] => Array ( [procDate] => 2021-10-14 17:18:03 ) ) ) [repoterName] => [us] => Array ( [content] => ) [thumbnail] => /data/ked/image/2021/06/10/ked202106100012.png [readTime] => 2 ) [1] => Array ( [aid] => ked202103290012 [writer] => jhlee20 [writeName] => 이재하 [writeDate] => 2021-03-29 15:02:15 [coid] => ked [oldId] => [oldId2] => [title] => South Korea's secondary battery exports reach all-time highs for 5 years in a row [expTitle] => South Korea's secondary battery exports reach all-time highs for 5 years in a row [subTitle] => [expSubTitle] => [content] =>

Despite worsening economic conditions due to the COVID-19 crisis, South Korea’s secondary battery business saw a rise in its key indicators, including production, export and domestic demand.

K-Battery sets all-time highs in exports for 5 years in a row

Despite worsening economic conditions due to the COVID-19 crisis, South Korea’s secondary battery business saw a rise in its key indicators, including production, export and domestic demand. Last year, Korean companies’ global production volume for secondary batteries stood at 23.3 trillion won ($21 billion), climbing more than 20% from the 19.4 trillion won in 2019. The export volume has continued to grow for five straight years, standing at $7.5 billion. The EV lithium-ion battery drove the overall export volume due to the growing market size of global electric vehicle (EV) and battery electric vehicle (BEV) market. The solid export performance is owing to Korean firms being prepared to meet the demands of the rapidly growing EV battery markets in major economies, including in Europe, the US and in China.

Source: Ministry of Trade, Industry and Energy

Secondary battery production

Lithium-ion battery, lead-acid battery (excluding components)

(Unit: Trillion Korean won)

Secondary battery exports

Lithium-ion battery, lead-acid battery (including components)

(Unit: $1 million)

EV lithium-ion battery drives exports

(Unit: $1 million)

Secondary batteries are rechargeable batteries. Lithium-ion batteries and lead-acid batteries are primary examples of secondary batteries. Lithium-ion batteries have become the leading force amid the growing EV market, accounting for 65% of secondary battery exports.

Korean firms’ market shares rise in the global EV battery market

Source: SNE Research (2020)

(Unit: %)

Korea’s major secondary battery makers -- LG Energy Solution, Samsung SDI and SK Innovation -- saw their market shares surge in the global EV battery market compared to the year-earlier period. In 2020, the three firms’ combined market shares stood at 34.7%, more than doubling their share from the previous year.

Three Korean battery makers’ combined market shares

EV & Energy Storage System (ESS) market growth expected to push demand for batteries

Secondary batteries are projected to see strong demand as upstream sectors, such as EV and ESS, continue to expand following the green initiatives launched in key markets such as in Europe, the US and China. In particular, the US is expected to firm up its energy policies under President Joe Biden’s new administration, such as rejoining the Paris Agreement and committing to carbon neutrality by 2050. Likewise, Europe is pushing for the same by 2050 and China has also announced plans to be carbon neutral by September, 2060. The growing secondary battery market is fueling competition over battery makers such as increased investments in facility expansion alongside the emergence of new market players. In the meantime, however, the top six companies from Korea, China and Japan are expected to take the lead.

[reporter] => Array ( [0] => Array ( [id] => jhlee20 [email] => jhlee20@hankyung.com [dept] => [name] => 이재하 ) ) [orgMedia] => [viewTmp] => [imageFile] => Array ( [0] => Array ( [mediaId] => ked202103290018 [mediaPath] => /data/ked/image/2021/03/29/ked202103290018.png [caption] => [mediaWidth] => 690 [mediaHeight] => 460 [mediaSize] => 108106 [watermarkPlace] => 0 [orgName] => Thumb.png [ext] => png [type] => image ) ) [series] => [oldtags] => [oldkeyword] => [isEmbago] => [movieInfo] => Array ( [0] => ) [inMovie] => [region] => [assetClass] => [aum] => [fundSize] => [fundRaising] => [hidden] => [unicorn] => [status] => Array ( [us] => publish ) [permission] => [tags] => [mainPlace] => [mainextYN] => N [memo] => Array ( [us] => ) [placeNum] => [modifier] => Array ( [us] => jhlee20 ) [modifyName] => Array ( [us] => 이재하 ) [modifyDate] => Array ( [us] => 2021-10-14 17:16:16 ) [isDelete] => Array ( [us] => ) [keyword2] => Array ( [us] => Monthly trade infographics ) [tags2] => Array ( [us] => Array ( [0] => EV [1] => battery ) ) [category] => Array ( [0] => Array ( [categoryID] => ked004000000 [categoryName] => Markets ) ) [isDesked] => [firstPublishDate] => Array ( [us] => 2021-03-30 17:59:17 ) [publishDate] => Mar 30, 2021 (Gmt+09:00) [publisher] => Array ( [us] => jhlee20 ) [published] => Array ( [us] => 1 ) [relationId] => Array ( [us] => Array ( [0] => 4941 ) ) [code] => [linkUrl] => [source] => [publishMedia] => Array ( [us] => Array ( [lexis] => Array ( [procDate] => 2021-10-14 17:18:05 ) ) ) [repoterName] => [us] => Array ( [content] => ) [thumbnail] => /data/ked/image/2021/03/29/ked202103290018.png [readTime] => 2 ) [2] => Array ( [aid] => ked202107070004 [writer] => dblee [writeName] => Danbee Lee [writeDate] => 2021-07-07 14:26:58 [coid] => ked [oldId] => [oldId2] => [title] => Korea's automobile exports log double-digit growth between Jan and May [expTitle] => Korea's automobile exports log double-digit growth between Jan and May [subTitle] => Exports of eco-friendly cars are on the rise, accounting for 25% of Korea's total automobile exports [expSubTitle] => [content] => [linkUrl] => [reporter] => Array ( [0] => Array ( [id] => dblee [email] => dblee@hankyung.com [dept] => [name] => Danbee Lee ) ) [orgMedia] => [viewTmp] => topimage [imageFile] => Array ( [0] => Array ( [mediaId] => ked202107140002 [mediaPath] => /data/ked/image/2021/07/14/ked202107140002.jpg [caption] => [mediaWidth] => 7000 [mediaHeight] => 4500 [mediaSize] => 7715545 [watermarkPlace] => 0 [orgName] => thumb-large.jpg [ext] => jpg [type] => image ) [1] => Array ( [mediaId] => ked202107120013 [mediaPath] => /data/ked/image/2021/07/12/ked202107120013.png [caption] => [mediaWidth] => 690 [mediaHeight] => 460 [mediaSize] => 456460 [watermarkPlace] => 0 [orgName] => Thumb2.png [ext] => png [type] => image ) ) [series] => [oldtags] => [oldkeyword] => [isEmbago] => [movieInfo] => Array ( [0] => ) [inMovie] => [region] => [assetClass] => [aum] => [fundSize] => [fundRaising] => [hidden] => [unicorn] => [status] => Array ( [us] => publish ) [permission] => [tags] => [category] => Array ( [0] => Array ( [categoryID] => ked004000000 [categoryName] => Markets ) ) [mainPlace] => [mainextYN] => N [memo] => Array ( [us] => ) [placeNum] => [modifier] => Array ( [us] => jhlee20 ) [modifyName] => Array ( [us] => 이재하 ) [modifyDate] => Array ( [us] => 2021-10-14 16:53:27 ) [isDelete] => Array ( [us] => ) [keyword2] => Array ( [us] => Monthly Infographic ) [tags2] => Array ( [us] => Array ( [0] => automobile [1] => koreaexports [2] => Monthly ) ) [code] => [isDesked] => [relationId] => Array ( [us] => Array ( [0] => 7386 ) ) [firstPublishDate] => Array ( [us] => 2021-07-12 14:57:30 ) [publishDate] => Jul 12, 2021 (Gmt+09:00) [publisher] => Array ( [us] => jhlee20 ) [published] => Array ( [us] => 1 ) [source] => [publishMedia] => Array ( [us] => Array ( [lexis] => Array ( [procDate] => 2021-10-14 16:54:04 ) ) ) [useDate] => 2021-10-14 17:18:53 [user] => jhlee20 [userName] => 이재하 [using] => 1 [repoterName] => [us] => Array ( [content] => ) [thumbnail] => /data/ked/image/2021/07/14/ked202107140002.jpg [readTime] => 2 ) [3] => Array ( [aid] => ked202101070015 [writer] => jhlee20 [writeName] => 이재하 [writeDate] => 2021-01-07 17:51:43 [coid] => ked [oldId] => [oldId2] => [title] => S.Korea's cleaning and disinfecting appliance exports soar amid COVID-19 pandemic [expTitle] => [subTitle] => [expSubTitle] => [content] =>

Increased time spent at home due to the prolonged COVID-19 pandemic has led to the rise in exports of cleaning and disinfecting appliances, including dishwashers, clothes dryers, air purifiers and vacuum cleaners. The cumulative exports for these household appliances surged by 22.5~71.5% in September 2020, compared to the year-earlier period. In particular, vacuum cleaner exports jumped by 71.5% compared to the previous year.

*Click on image to view full size

[reporter] => Array ( [0] => Array ( [id] => jhlee20 [email] => jhlee20@hankyung.com [dept] => [name] => 이재하 ) ) [orgMedia] => [viewTmp] => [imageFile] => Array ( [0] => Array ( [mediaId] => ked202101080012 [mediaPath] => /data/ked/image/2021/01/08/ked202101080012.png [caption] => [mediaWidth] => 690 [mediaHeight] => 460 [mediaSize] => 446892 [watermarkPlace] => 0 [orgName] => Thumb.png [ext] => png [type] => image ) [1] => Array ( [mediaId] => ked202101080013 [mediaPath] => /data/ked/image/2021/01/08/ked202101080013.png [caption] => [mediaWidth] => 900 [mediaHeight] => 2945 [mediaSize] => 934821 [watermarkPlace] => 0 [orgName] => 33Korean companies lining up for January IPOs in 2021 – 7.png [ext] => png [type] => image ) ) [series] => [oldtags] => [oldkeyword] => [isEmbago] => [movieInfo] => Array ( [0] => ) [inMovie] => [region] => [assetClass] => [aum] => [fundSize] => [fundRaising] => [hidden] => [unicorn] => [status] => Array ( [us] => publish ) [permission] => [tags] => [mainPlace] => [mainextYN] => N [memo] => Array ( [us] => ) [placeNum] => [modifier] => Array ( [us] => dblee ) [modifyName] => Array ( [us] => Danbee Lee ) [modifyDate] => Array ( [us] => 2021-07-07 10:14:40 ) [isDelete] => Array ( [us] => ) [keyword2] => Array ( [us] => Monthly Infographic: Disinfecting appliances ) [tags2] => Array ( [us] => Array ( [0] => ) ) [category] => Array ( [0] => Array ( [categoryID] => ked001000000 [categoryName] => Companies ) [1] => Array ( [categoryID] => ked004000000 [categoryName] => Markets ) ) [isDesked] => [firstPublishDate] => Array ( [us] => 2021-01-08 12:12:09 ) [publishDate] => Jan 08, 2021 (Gmt+09:00) [publisher] => Array ( [us] => dblee ) [published] => Array ( [us] => 1 ) [relationId] => Array ( [us] => Array ( [0] => 4942 [1] => 7386 [2] => 7386 [3] => 8983 [4] => 8983 [5] => 10197 [6] => 10198 [7] => 10198 [8] => 4942 ) ) [linkUrl] => [repoterName] => [us] => Array ( [content] => ) [thumbnail] => /data/ked/image/2021/01/08/ked202101080012.png [readTime] => 1 ) [4] => Array ( [aid] => ked202106140016 [writer] => daniel.cho [writeName] => Daniel Cho [writeDate] => 2021-06-14 18:37:53 [coid] => ked [oldId] => [oldId2] => [title] => Korea’s F&B exports to surpass $4.5 billion in 2021 [expTitle] => Korea’s F&B exports to surpass $4.5 bn in 2021 [subTitle] => From seaweed snacks to soju and kimchi-flavored tuna, Korean F&B items gain popularity in Southeast Asia [expSubTitle] => [content] =>

South Korea’s food and beverage (F&B) exports set a new record in 2020 and are projected to rise even higher this year.

According to Korea Customs Service on June 14, the country’s F&B exports totaled $4.28 billion last year, growing 14.7% from $3.73 billion in 2019.

The segment is still strong this year, recording $1.59 billion exports up to April. Industry analysts say the annual figure will likely surpass 5 trillion won ($4.47 billion) in 2021.

Korean F&B products enjoyed by international consumers have previously been limited to only a few well-known condiments and dishes such as kimchi, bulgogi (marinated beef BBQ) and bibimbap (mixed rice and vegetable bowl).

But thanks to the growing popularity of all things Korean in all corners of the world, industry experts say that the global community has been showing greater interest in Korean food and beverages. 

Korea’s largest kimchi producer Daesang Corp.’s has recently focused on exporting seaweed to Southeast Asia. While salted dried seaweed is typically consumed with white rice in Korea, Daesang noted that Indonesians eat seaweed as a snack.

Daesang, in partnership with a local brand Mamasuka, introduced a range of snack-sized seaweed products with flavor offerings not available in Korea such as Korean BBQ or salted egg flavors, as well as the original seaweed product made to eat with rice.

Thanks to the huge success of its products, Daesang now holds a 63% share of the seaweed market in Indonesia.

Dongwon F&B Co., the country’s largest producer of canned tuna, is also entering the Southeast Asian market with Dongwon Kimchi Tuna, which will also receive Halal certification, according to the company.

The Korean fried chicken franchise Chicken Plus, whose main menu includes chicken dishes and tteokbokki (spicy stir-fried rice cakes), entered Malaysia in 2018. Now Chicken Plus also has franchises in China, Japan and Vietnam.

Tteokbokki captured the attention of BTS fans globally in recent years after multiple photos of its members eating the dish spread across social media.

In the beverage segment, Korea’s dominant soju industry leader HiteJinro Co. is leading the promotion of Korean drinks overseas.

Soju, ironically, was picked as the worst item among all Korean food and drinks last year when the Ministry of Agriculture, Food and Rural Affairs (MAFRA) conducted a comprehensive study involving 8,000 international consumers. Many said that soju lacks both an appealing odor and taste compared to drinks familiar to foreign consumers such as wine or whiskey.  

HiteJinro tackled the issue with fruit-flavored soju products, already a bit hit in Korea in 2015.

After introducing Jinro Grapefruit and other fruit-flavored soju items in Southeast Asia, HiteJinro said that the numbers indicate that more locals there are enjoying the drink.

According to the company’s analysis, only 24.5% of total soju consumption in Malaysia was by locals back in 2016, when the vast majority was still consumed by overseas Koreans at Korean restaurants. HiteJinro says that the figure rose to 82.7% last year, meaning eight out of every 10 soju bottles were drunk by locals in Malaysia.

By Jong-kwan Park

pjk@hankyung.com

Daniel Cho edited this article. [linkUrl] => [reporter] => Array ( [0] => Array ( [id] => daniel.cho [email] => daniel.cho@hankyung.com [dept] => [name] => Daniel Cho ) [1] => Array ( [id] => parkdaha [email] => parkdaha@gmail.com [dept] => [name] => Daha Park ) ) [orgMedia] => [viewTmp] => [imageFile] => Array ( [0] => Array ( [mediaId] => ked202106140038 [mediaPath] => /data/ked/image/2021/06/14/ked202106140038.jpg [caption] => [mediaWidth] => 620 [mediaHeight] => 314 [mediaSize] => 58651 [watermarkPlace] => 0 [orgName] => hj.jpg [ext] => jpg [type] => image ) [1] => Array ( [mediaId] => ked202106140039 [mediaPath] => /data/ked/image/2021/06/14/ked202106140039.jpg [caption] => [mediaWidth] => 640 [mediaHeight] => 480 [mediaSize] => 139952 [watermarkPlace] => 0 [orgName] => MAMASUKA2.jpg [ext] => jpg [type] => image ) [2] => Array ( [mediaId] => ked202106140040 [mediaPath] => /data/ked/image/2021/06/14/ked202106140040.png [caption] => [mediaWidth] => 663 [mediaHeight] => 608 [mediaSize] => 852506 [watermarkPlace] => 0 [orgName] => bts.PNG [ext] => png [type] => image ) ) [series] => [oldtags] => [oldkeyword] => [isEmbago] => [movieInfo] => Array ( [0] => ) [inMovie] => [region] => [assetClass] => [aum] => [fundSize] => [fundRaising] => [hidden] => [unicorn] => [status] => Array ( [us] => auto [jp] => publish [ch] => publish ) [permission] => [tags] => [mainPlace] => [mainextYN] => N [memo] => Array ( [ch] => ) [placeNum] => [modifier] => Array ( [us] => parkdaha [jp] => 930271 [ch] => parkdaha ) [modifyName] => Array ( [us] => Daha Park [jp] => 토요우라 [ch] => Daha Park ) [modifyDate] => Array ( [us] => 2021-06-15 13:51:19 [jp] => 2021-06-15 10:51:38 [ch] => 2021-06-15 13:54:38 ) [isDelete] => Array ( [us] => [jp] => [ch] => ) [keyword2] => Array ( [us] => F&B [jp] => [ch] => 餐饮业 ) [tags2] => Array ( [us] => Array ( [0] => BTS [1] => Soju [2] => Jinro [3] => Hite [4] => Beer [5] => Kimchi [6] => Tuna [7] => Tteokbokki ) [jp] => Array ( [0] => ) [ch] => Array ( [0] => 餐饮 [1] => 韩国 [2] => 海苔 [3] => 紫菜 [4] => 烧酒 [5] => 泡菜 [6] => 金枪鱼 ) ) [relationId] => Array ( [ch] => Array ( [0] => 6500 [1] => 8019 [2] => 9625 ) [us] => Array ( [0] => 8018 [1] => 8018 [2] => 9917 [3] => 9917 ) ) [category] => Array ( [0] => Array ( [categoryID] => ked001000000 [categoryName] => Companies ) [1] => Array ( [categoryID] => ked005000000 [categoryName] => Culture & Trends ) ) [isDesked] => [firstPublishDate] => Array ( [us] => 2021-06-14 19:24:27 [jp] => 2021-06-15 09:27:40 [ch] => 2021-06-15 13:25:02 ) [publishDate] => Jun 14, 2021 (Gmt+09:00) [publisher] => Array ( [us] => jen [jp] => 930271 [ch] => parkdaha ) [published] => Array ( [us] => 1 [jp] => 1 [ch] => 1 ) [repoterName] => [us] => Array ( [content] => ) [thumbnail] => /data/ked/image/2021/06/14/ked202106140038.jpg [readTime] => 2 ) [5] => Array ( [coid] => ked [oldId] => 20210301_276037 [title] => Korea remains world's 7th-largest exporter despite drop in exports [content] =>

South Korea has maintained its position as the world's seventh-largest exporter despite its exports dropping by over five percent last year, according to the World Trade Organization (WTO) on Feb. 28.

Korea exported $512.5 billion worth of goods last year, down by 5.5% from the previous year. The country was overtaken by Hong Kong, which jumped from being the ninth-largest exporter to the sixth-largest exporter as its exports rose by 2.6% last year. But Korea maintained its status, as France, which had ranked higher, saw its exports plunge by 14.5% last year and dropped to ninth place.

Meanwhile, Korea accounted for 3.1 percent in global exports, a modest rise from 2.9% in 2019. China held the title as the world's largest exporter, with its exports reaching around $2.6 trillion, up by 3.7% from the year-earlier period and almost fivefold Korea's volume. China has maintained the lead in exports since 2009.

The US came in second with $1.4 trillion worth of exports, followed by Germany ($1.38 trillion), the Netherlands ($674.5 billion), Japan ($641.4 billion) and Hong Kong ($548.8 billion).

Trailing behind Korea was Italy, with exports of goods amounting to $496.1 billion, France ($488.3 billion) and Belgium ($419.3 billion).

In terms of percentage change among the world's top 10 exporters, China and Hong Kong were in the lead as their exports increased amid the global pandemic by 3.7% and 2.6%, respectively. Korea came in fourth with minus 5.5 percent. 

Korea's exports began to suffer when the COVID-19 crisis spread worldwide in April 2020, with its exports plunging by 25.6% and posting negative growth between May and August.

In November 2020, Korea was able to rebound due to recovering demand for semiconductors and displays. The Ministry of Economy and Finance expects the country's exports to rise by 8.6% this year, backed by global trade recovery and the booming semiconductor industry.

By Min-jun Suh

morandol@hankyung.com

Danbee Lee edited this article. [category] => Array ( [0] => Array ( [categoryID] => ked004000000 [categoryName] => Markets ) ) [imageFile] => Array ( [0] => Array ( [mediaId] => ked202103010003 [mediaPath] => /data/ked/image/2021/03/01/ked202103010003.jpg [caption] => [mediaWidth] => 540 [mediaHeight] => 360 [mediaSize] => 74996 [watermarkPlace] => 0 [orgName] => export_thumb.jpg [ext] => jpg [type] => image ) ) [writeName] => joins [writeDate] => 2021-03-01 10:35:01 [status] => Array ( [jp] => publish [us] => publish ) [aid] => ked202103010002 [assetClass] => [aum] => [fundRaising] => [fundSize] => [hidden] => [inMovie] => [isEmbago] => [mainPlace] => [mainextYN] => N [memo] => Array ( [jp] => ) [movieInfo] => Array ( [0] => ) [oldId2] => [oldkeyword] => [oldtags] => [orgMedia] => [permission] => [placeNum] => [region] => [reporter] => Array ( [0] => Array ( [id] => dblee [email] => dblee@hankyung.com [dept] => [name] => Danbee Lee ) ) [series] => [unicorn] => [viewTmp] => [modifier] => Array ( [us] => jen [jp] => yoocool ) [modifyName] => Array ( [us] => jen [jp] => 유창재 ) [modifyDate] => Array ( [us] => 2021-03-01 19:31:58 [jp] => 2021-03-02 09:34:42 ) [expTitle] => Korea remains world's 7th-largest exporter despite drop in exports [subTitle] => [expSubTitle] => [isDelete] => Array ( [us] => [jp] => ) [keyword2] => Array ( [us] => Exports [jp] => ) [tags2] => Array ( [us] => Array ( [0] => ) [jp] => Array ( [0] => ) ) [relationId] => Array ( [jp] => Array ( [0] => 2372 ) [ch] => Array ( [0] => 4533 [1] => 4534 [2] => 4535 ) ) [isDesked] => [firstPublishDate] => Array ( [us] => 2021-03-01 14:53:54 [jp] => 2021-03-01 19:52:55 ) [publishDate] => Mar 01, 2021 (Gmt+09:00) [publisher] => Array ( [us] => jen [jp] => yoocool ) [published] => Array ( [us] => 1 [jp] => 1 ) [repoterName] => [us] => Array ( [content] => ) [thumbnail] => /data/ked/image/2021/03/01/ked202103010003.jpg [readTime] => 1 ) ) 1 -->