Browse Data and Analysis

South Korea’s Hotel, Restaurant and Institutional (HRI) food service sector continues to grow as consumers spend more on dining out and look for more convenience in their busy lives.

In Marketing Year (MY) 2020 (January – December), Korea’s chicken production is projected to increase about 1.6 percent to 957,000 metric tons (MT) compared to MY 2019.

Korea will continue to expand its cattle inventories and consume more domestic and imported beef during the remainder of 2019 and into 2020.

The United States continues to be a top supplier of forage to South Korea.

Korean imports of seafood in 2018 totaled $5.79 billion, up 16.2 percent from 2017 due to rising prices and increased imports of shrimp and squid.

Elevated food safety concerns coupled with evolved taste of the South Korean consumers generate increased demand for imported organic foods.

Strong consumer demand for value, quality, convenience, and diversity generates increased demand for imported agricultural products in the Korean retail industry.

On April 30, 2019, U.S. Embassy Seoul’s Office of Agricultural Affairs, the U.S. Grains Council (USGC) Korea office, and the Korea Biofuels Forum (KBF) jointly hosted the 2019 Seoul Fuel Ethanol....

The 2019/20 Marketing Year rice production forecast is unchanged from the previous report at 3.88 million metric tons (MMT), as price supports offset the government’s attempts to reduce rice paddy....

Graphic showing the top markets for U.S. ag exports in 2018. Canada was the top market, followed by Mexico and the European Union.

Korea relies heavily on imports to fulfill its food and agricultural needs. Korea maintains a strong food processing industry that manufactures a wide variety of food and beverage products.

U.S. oranges coming into Korea from September 1- February 28 do so under a Tariff Rate Quota (TRQ) negotiated under the Korea-U.S. Free Trade Agreement (KORUS).