Before the three kingdoms of Goguryeo, Silla, and Baekje were established on the Korean Peninsula, the Korean people made rice cakes by pounding grain flour. The tools used to steam the rice cakes, called "siru," and to peel and grind the grain into flour, such as "galpan" and "galdol," have been discovered at Bronze Age archaeological sites in Korea. According to the Korean history book Samguk Sagi, in 298 A.D., a person whose number of teeth increased after he bit into a rice cake was chosen to be the King. 

Rice cakes, which have a long history, have begun to emerge as a new K-Food globally. Traditional food made in every home is now spreading beyond the domestic market to the world. The main products are "tteokguk (sliced rice cake soup) tteok" and "tteokboki (fried rice cake) tteok" made from garaetteok (rice cake stick). These rice cakes are among the top 10 rice cake favorites in Korea. However, unlike most other rice cakes that are chosen as snacks or for special occasions, "tteokguk tteok" and "tteokbokki tteok" are sold as food for everyday meals regardless of social class, region, location, or season, making them the best-selling rice cakes in both the domestic and overseas markets. The influence of BTS's tteokbokki eating video has also contributed significantly to the worldwide recognition of spicy Korean cuisine. It helped open the doors for exporting Korean tteok overseas, and now it's a huge hit around the world.

In terms of domestic rice cake production in 2021, tteokbokki tteok accounted for 71.6% with a production value of 112.1 billion won, tteokguk tteok accounted for 23.3% with a production value of 36.5 billion won, and other rice cakes accounted for 5.0% with a production value of 7.9 billion won. Tteokbokki tteok is mostly sold in the form of frozen meal kits or as easy-to-cook microwaveable food. Tteokguk tteok is packaged and distributed in a form that is convenient for cooking at any time. The annual growth rate of rice cake production in Korea is increasing significantly, with a growth rate of 18.4% in 2019, 9.3% in 2020, and 36.8% in 2021. During the COVID-19 pandemic, rice cakes were often used as a meal substitute, and interest in health has continued to grow, leading to a greater love for rice cakes made from rice rather than flour, sugar, and salt. The trend of nostalgia for tradition has also increased the popularity of rice cakes as a traditional food among young people. As a result, the production and consumption of rice cakes in Korea, both domestically and abroad, has been growing rapidly. In 2020, there were 201 rice cake manufacturers in Korea.

As Korean rice cake exporters began to supply products that can be distributed at room temperature and have excellent elasticity in quality after cooking, Korea's rice cake exports have continued to increase. In 2021, the export value of rice cake was USD65.85 million, an increase of 22.5% from the previous year. The export volume was 19,903 tons, an increase of 17.1% over the same period in the previous year. The export value of rice cake, which was only USD16.03 million in 2017, has increased more than four times to USD65.85 million in just five years. The export volume has also increased more than threefold from 6,008 tons in 2017 to 19,903 tons in 2021. In 2021, the United States was the largest export market with an export value of USD18.47 million and an export volume of 6,050 tons. Next, the top four countries accounted for 60.8% of exports in the order of Japan, Indonesia, and Vietnam. The exports to Indonesia increased by 348% from USD780,000 in 2019 to USD3.52 million in 2020. The exports to the Middle Eastern market were USD1.44 million in 2021, an increase of 70.9% compared to 2020. The European market also saw an increase in export value, which was USD6.51 million in 2021, an increase of 51.9% compared to 2020.

Gungjeonbang, a rice cake specialty company founded in 1983, saw an increase in its export revenue by about 15% from USD4.75 million in 2021 to USD5.43 million in 2022. Exports account for about 80% of the company's total sales. "Chilkap Agriculture" is the number one rice cake manufacturer in Korea, exporting to more than 50 countries. Since its establishment in 1992, the company has a production capacity of up to 250 tons per day. "School Days' Tteokbokki, which exports to over 35 countries with an export value of over USD3 million, is unique in that it is made of flour instead of rice cake.

There is also "Mongsili", a barley-based rice cake specialty company, and "Dduckhamji", which exports ssuk injeolmi (bean powder coated rice cake with mugwort), ssuk chapssaltteok (mugwort sweet rice cake with red bean filling), and other products. "Saimdang Food has entered the Japanese market with its fusion rice cake brand "Gomesiru". This followed its expansion into the U.S., Australia, and Canada. In addition, many different types of rice cakes continue to carry on the tradition and cultural heritage of their regions. Large and small specialty rice cake companies continue to emerge, and it is expected that new and diverse Korean rice cakes will continue to appear on the world stage in the future. Therefore, the global boom of Korean rice cakes has only just begun.