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The lobster market has grown since Korea signed FTAs with the United States in 2012 and Canada in 2015. Korean lobster imports totaled 5,254 metric tons in 2019.
This report is an update on recent efforts by Korea to update their veterinary drug safety management system, which may impact U.S. exports of meat and livestock products to Korea.
Korean seafood imports totaled $5.43 billion in 2019, down 6.3 percent from 2018. U.S. seafood imports decreased by 11.3 percent from $261 million to $232 million.
On December 24, 2018, Korea issued an updated list of adjustment tariffs and voluntary tariff rate quotas (TRQs) for certain agricultural, forestry and fishery products....