Browse Data and Analysis

On November 4, 2022, the Korea Agro-Fisheries & Food Trade Corporation (aT) announced the results of the 2022 U.S. orange tariff rate quota (TRQ) allocations. Korea switched to a new license allocation system this year, replacing the import rights auction process used in prior years. A key piece of the new allocation system is that 80 percent of the total TRQ is reserved for importers with historical import volumes, while the remaining 20 percent is reserved for new importers.

FY2022 agricultural exports reach record levels.

Korea’s 2022/23 pear production is projected to increase by 16 percent, driven mostly by increased yields due to favorable weather. Korean pear consumption is projected to rise by 14.3 percent following a 6 percent fall in market prices, with the balance of increased production going to exports. Fresh pear imports (including U.S. origin) are not allowed under Korea’s existing phytosanitary regulations.

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.