huffdaddy
Joined: 25 Nov 2005
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 Posted: Tue Nov 21, 2006 3:32 pm Post subject: Korean trade deficit |
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http://news.yahoo.com/s/afp/20061121/od_afp/skoreachinatrade_061121171358
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Cheap Chinese kimchi threatens SKorea's national dish
Tue Nov 21, 12:13 PM ET
SEOUL (AFP) -
South Korea is set to record a woeful economic statistic -- its first-ever trade deficit in kimchi.
Kimchi imports made mostly from cheap Chinese cabbages in the first 10 months were worth 73 million dollars, a rise of 67 percent from the same period last year, the JoongAng daily reported.
Exports of the national dish were worth 58.4 million in the same period, down 29 percent, the paper said, quoting agriculture ministry and customs figures.
The famed dish of spicy fermented cabbage and radish, red peppers, garlic and ginger sparked a trade dispute with China last year, after South Korean food inspectors said kimchi from China was contaminated with parasite eggs.
China responded with an import ban on 10 South Korean food products including kimchi, saying they were contaminated.
Koreans claim a series of health-giving properties for the dish, which has a six-day festival and even a museum dedicated to it. |
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