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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.
Korea updated the web portal used to register foreign food facilities that export to this market. Registration is a requirement for import clearance and must be renewed every two years.
U.S. distilled spirits exports to South Korea totaled $13.4 million in 2019, up 12.2 percent from 2018. The top U.S. products in the market are whiskey, vodka, and liqueurs.
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.