South Korea
U.S. Trade with South Korea in 2023
Export Market Rank
#6 Among U.S. Agricultural Export Markets
Total Export Value
$7.5 Billion
3-Year Average
$8.77 Billion
Compound Average Growth
0.68% (2014-2023)
Total Export Value 2014 - 2023
Export Value by Commodity 2023
Top 10 Exports to South Korea in 2023
| Commodity | Total Value (USD) | Total Volume (Metric Tons) | 10-Year Average Value (USD) | 10-Year Growth |
|---|---|---|---|---|
| Beef & Beef Products | $2.13 Billion | 248,257 | $1.65 Billion | 151% |
| Pork & Pork Products | $632.9 Million | 190,975 | $527.03 Million | 43% |
| Wheat | $406.55 Million | 1.2 Million | $369.84 Million | -1% |
| Distillers Grains | $380.11 Million | 1.27 Million | $250.15 Million | 113% |
| Food Preparations | $343.1 Million | 11,527 | $362.14 Million | 45% |
| Fresh Fruit | $331.35 Million | 117,898 | $401.18 Million | -5% |
| Dairy Products | $320.27 Million | 85,171 | $352.99 Million | -23% |
| Soybeans | $320.1 Million | 530,012 | $317.15 Million | -11% |
| Corn | $271.35 Million | 896,598 | $716.44 Million | -74% |
| Tree Nuts | $269.85 Million | 50,559 | $307.24 Million | -25% |
Data and Analysis
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.
News and Features
A recent USDA-sponsored agribusiness trade mission to the Republic of Korea (South Korea) proved to be a tremendous success for nearly 50 U.S. agribusinesses, cooperators, trade associations, and state departments of agriculture looking to grow and diversify U.S. exports to East Asia.
News Release
USDA Trade and Foreign Agricultural Affairs Under Secretary Taylor Launches Trade Mission in South Korea
Under Secretary Alexis Taylor arrived in Seoul today with officials from 48 agribusiness and farm organizations and five state departments of agriculture.
Representatives from 49 U.S. companies and organizations will join the USDA trade mission to South Korea later this month.