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The Korean government revised its marketing year (MY) 2024/25 rice production estimate down to reflect a 2-percent yield reduction from extreme heat, untimely rains, and pest damage.

Chocolate is a popular product in the Korean market, with 2023 sales reaching $578 million and imports of chocolate totaling $356 million.

Korean imports of cheese products continue to grow, seeing a five percent compound annual growth rate over the last five years. Mozzarella is the most imported cheese product and the United States is the leading supplier of cheese to Korea.

Korea’s beer imports reached $218 million in 2023, up 11.8 percent from $195 million in 2022, but still 30 percent down from the record high of $310 million in 2018. Although Korea’s beer imports have been decreasing since the pandemic, the United States increased exports of beer to Korea in 2023, reaching $17.9 million, up 43% from $12.5 million in 2022.

The FAS Seoul June 2021 Grain and Feed update covers changes to the Korean rice situation since the March 2021 Grain and Feed Annual report.

The outlook for U.S. products in the Korean retail industry is excellent for a wide range of products.

While Korean seafood imports declined in 2020, the United States remains the country's fifth-largest seafood supplier with a 4.1 percent market share.