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Attaché Report (GAIN)

South Korea: Grain and Feed Annual

The Korean government’s policy incentivizing farmers to replace rice acreage with other crops is the driving force behind record low rice planting and production projected in marketing year (MY) 2024/25.
Attaché Report (GAIN)

South Korea: Oilseeds and Products Annual

Breaking with historical practice, Korean soybean crushers began operating below full capacity in mid-2023 and are forecast to further reduce crush volume into marketing year (MY) 2024/25. Soybean imports are forecast to recover slightly from MY 2023/24, but will still remain below average levels on sluggish crushing demand.
Attaché Report (GAIN)

South Korea: Vegetable Oil Market Overview

This report analyzes all vegetable oil markets in Korea, whether for food or industrial use, and covers oils derived from soybean, palm, palm kernel, olive, rapeseed/canola, grapeseed, sunflower seed, corn, coconut, sesame, perilla seed (a leafy plant from the mint family), and rice bran.
On December 26, 2023, Korea issued its flexible tariff Adjustment and Tariff Rate Quota list for certain agricultural, forestry and fishery products for calendar year (CY) 2024.
Attaché Report (GAIN)

South Korea: Grain and Feed Update

In the final month of 2023, Korea finally completed allocating its country specific quota (CSQ) for rice imports totaling 408,000 MT (milled basis) under its 2023 tariff rate quota (TRQ) scheme. However, with most tenders fulfilled in the second half...
Attaché Report (GAIN)

South Korea: 2023 Rice Production Update

On November 14, 2023, Statistics Korea (KOSTAT) released its final estimate of 2023 rice production at 3.7 million metric tons (MMT), up an additional 0.5 percent from the initial rice production estimates released in early October and down 1.6 percent overall from the prior year.
In 2023, the Korean government implemented three rounds of tariff rate quotas (TRQs) for various imported agricultural, livestock, and fishery products, including new TRQs to stabilize food prices.
Attaché Report (GAIN)

South Korea: Exporter Guide

As the 5th largest country export market for the United States, Korea provides a promising market for U.S. agricultural products. In 2022, Korea imported about $50 billion agricultural and food products from all over the world and the U.S. supplied a fifth of it, ranking number one. Other key suppliers were China, Australia, Brazil, Vietnam, and Thailand.
Attaché Report (GAIN)

South Korea: Korea's Apple Update

Already reeling from high fruit prices, Korean consumers will face another year of expensive, lower-quality apples. Korea’s apple production for marketing year (MY) 2023/24 fell 25 percent year-on-year after orchards suffered a series of adverse weather events in 2023.
Attaché Report (GAIN)

South Korea: Agricultural Biotechnology Annual

Korea has not finalized the May 2021 revisions of its Living Modified Organism (LMO) Act, which defines Korea’s regulatory policies for products developed through innovative technologies including genome editing.
Attaché Report (GAIN)

South Korea: Grain and Feed Update

Rice production in Korea is forecast to be gradually down in marketing year (MY) 2023/24 on reduced acreage in response to government incentives encouraging farmers to switch to other grains, such as wheat and soybean.
Attaché Report (GAIN)

South Korea: Fresh Deciduous Fruit Annual

Korean fresh pear production is expected to decrease 20 percent in Marketing Year (MY) 2023/24 as adverse weather events struck orchards throughout spring flowering and into the summer. Supplies of high-quality pears are expected to be below average because of high rates of damaged fruit.