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Korea’s pet food market has been growing strongly. But, while imported products have traditionally dominated the market, imports declined in 2023 for the first time in over a decade.

As the fifth largest country export market for the United States, Korea provides a promising market for U.S. agricultural products. In 2023, Korea imported about $47 billion agricultural & related products from all over the world and the U.S...

On July 1, 2024, the United States and Republic of Korea agreed to the labeling requirements outlined in this report regarding storage state for U.S. red meat and poultry products and U.S. processed red meat, poultry, egg, and dairy products.

Marketing Year (MY) 2024/25 rice production and consumption forecasts remain unchanged since the April 2024 Grain and Feed Annual Report. Post revised MY 2023/24 rice imports down based on the import tender fulfillment pace by the Korean government. Progress allocating the 2024 rice tariff rate quota (TRQ) has been favorable for the United States, but local distribution of imported U.S. table rice has not kept pace, as auctions remain suspended since November 2023.

Korea's food processing industry relies heavily on imports to fulfill its food and agricultural needs in order to manufacture a wide variety of food and beverage products.

This report outlines specific requirements for food and agricultural product imports into the Republic of South Korea. Updates to the 2024 FAIRS Country Report are included in Sections I, II, IV, V, VI, VII, X and Appendix II.

This report includes technical information and certificate requirements for food and agricultural product exports to the Republic of South Korea.

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.

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.

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.

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...