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On December 10, 2021, Korea released its 2022 Market Access Quota (MAQ) updates, which cover a variety of agricultural commodities ranging from mung bean, red bean, soybeans to various feed ingredients. These MAQs are used to minimize local price fluctuations resulting from domestic supply shortages.
The United States is the leading supplier of imported consumer-oriented agricultural products to the Korean retail industry, shipping a record $5.4 billion in 2019.
On April 21, 2020, the Korean government released the final version of a new subsidy program for rice producers to replace the existing direct payment program.
The United States is the leading supplier of imported consumer-oriented agricultural products to the Korean retail industry, shipping a record $5.4 billion in 2019.