Browse Data and Analysis

Despite the challenging economic environment, Korea’s wine imports in 2017 totaled a record high $210 million, up 10 percent from 2016.

In MY 2015/16, 37 percent of the total South Korean edible oil supply was palm oil, 35 percent was soybean oil, 9 percent was rapeseed oil and 20 percent was an assortment of other oils.

The imported beer market in South Korea continues robust growth due to strong consumer demand for products of diversified taste and higher quality.

Korea continues to meet its mandatory import volume of 408,700 metric tons (MT) from Most Favored Nation (MFN) countries, with purchases of 138,610 MT (milled) from the United States in CY 2017.

On December 26, 2017, Korea issued an updated list of adjustment tariffs and voluntary tariff rate quotas (TRQs) for certain agricultural, forestry and fishery products....

The Korea- Australia Free Trade Agreement (KAFTA) was officially signed by both parties on April 8th, approximately two years after the KORUS FTA went into effect in March 2012.

Chicken production is expected to increase 5.1 percent to 746,000 MT in 2014 and to 753,000 MT in 2015 due to greater broiler chick production and higher parental stock inventory.