South Korean media: Chinese products are taking over South Koreans' dining tables! On June 8, South Korean media "Asia Economy" published an article stating that imported foods are rapidly occupying South Koreans' dining tables. Due to long-term high prices and abnormal climate leading to a decrease in production of vegetables such as cabbage and onions as well as mackerel, their imports have surged sharply. The South Korean government's policy to expand the range of tariff quota goods to stabilize prices has stimulated imports. Data from the Korea Trade-Investment Promotion Agency shows that from January to March this year, South Korea's food import amounted to $8.669 billion (4.707 million tons), a 3.5% increase compared to the same period last year. Among them, the growth in imports of agricultural products and aquatic products drove the overall growth. The commodity with the largest increase is cabbage. The import volume of cabbage increased more than 13 times, reaching $6.08 million (19,989 tons). The price of onions also more than doubled, rising from $5.52 million (14,509 tons) to $12.82 million (42,678 tons). The import value of pickles also increased by 17% year-on-year, reaching $47.56 million (89,700 tons). Over 90% of vegetable imports come from China. The main reason is the poor harvest of South Korean cabbages, radishes, and other crops due to high temperatures since last autumn and the cold snap in winter. As prices soared, the South Korean government increased imports of these products by imposing quota tariffs to stabilize prices. By April, the tax rates for four commodities including cabbages, radishes, napa cabbage, and carrots had been reduced to 0%. In aquatic products, the import value of mackerel increased from $36.49 million (16,399 tons) to $67.89 million (25,454 tons), a growth of over 55%. The main importing country for mackerel is Norway. With a reduction in South Korean catches, competitively priced imported mackerel is rapidly gaining popularity. During this period, the import value of pickles set a historical high. In the first quarter, the import value of pickles was $47.56 million, a 16.7% increase compared to the same period last year ($40.75 million). The import volume of pickles was 809,700 tons, a 10.1% increase. Last year's pickle import volume reached a historical high. However, if the import trend in the first quarter continues this year, the record for pickle imports is expected to be broken. Due to the import volume exceeding the export volume, the trade deficit in pickles is expanding. Last year's export value increased by 5.1%, reaching $163.57 million, a new record. However, due to the greater increase in imports compared to exports, there has been a deficit for three consecutive years starting from 2022. Last year's deficit reached $26.29 million, three times higher than the previous year ($7.98 million). It is worth noting that 99% of South Korea's imported pickles come from China. Original article: https://www.toutiao.com/article/1834351042881544/ Disclaimer: This article represents the views of the author only.