According to industry observers on Friday, more large Korean food companies are experiencing record sales this year, largely due to their success in overseas markets.

Despite soaring prices for natural produce and manufactured food this year, which have slowed domestic consumption, the global popularity of Korean cuisine has helped sustain these companies. Three trillion won ($2.22 billion), once considered the minimum sales figure needed to qualify as a large food firm here, is apparently no longer sufficient.

According to market experts, 10 Korean food firms have now joined the country’s “3 trillion won club,” up from just four in 2022. Some of these companies even anticipate exceeding 4 trillion won in sales this year.

Leading the pack of mega-performers is CJ Cheiljedang, which has far surpassed the single-digit standard with 29 trillion won in sales last year and 14.5 trillion won in the first half of this year. The company projects it will reach 29.7 trillion won by the end of the year.

CJ saw rising sales overseas with its signature food brand Bibigo for various Korean food like dumplings, gimbap (steamed rice rolls stuffed with various ingredients) and tteokbokki (spicy rice cakes). The company has been promoting the brand in 토토 international sports events like the PGA Tour and introducing it as a meal option for international airliners. The company said it would keep expanding its global markets using “globally strategic products.”

Lotte Chilsung recorded 3.2 trillion won in sales last year and anticipates exceeding 4.1 trillion won this year. This growth has been bolstered by the company’s Filipino subsidiary, Pepsi Philippines, which it acquired operational rights for in September of last year. The subsidiary registered over 803 billion won worth of sales in the first half of the year, more than triple the figure from the previous year.