Korea, South

U.S. agricultural exports to South Korea reached a record $6.9 billion in fiscal year 2014, up 32 percent from the previous year. South Korea is the United States' sixth-largest market, with top exports including corn, beef and dairy.

Implementation of the U.S.-Korea Trade Agreement (KORUS) on March 15, 2012 immediately removed duties on two-thirds of U.S. agricultural trade, and is helping to keep the United States on a level playing field with Korea’s other foreign trading partners. Major winners to date from KORUS include tree nuts, dairy, and processed fruits and vegetables. Going forward, the KORUS committee structure, including the Committee on Trade in Goods and the Committee on Sanitary and Phytosanitary Measures, will be the forum for resolving market access issues.

Data & Analysis

July 29, 2015
This report is an update to the previous forecast. Notable changes for MY 2015/16 include an increase in Korean wheat production to 36,000 MT and increased wheat consumption to 3.85 million tons.
July 23, 2015
This biannual report, published in January and July, includes data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in citrus.
July 21, 2015
Despite challenging economic environment, the South Korean wine market continues to expand.
July 17, 2015
This biannual report includes data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in dairy products.