Korea, South

Infographic showing U.S. agricultural trade with South Korea in 2019

In 2019, South Korea was the sixth largest destination for U.S. agricultural exports, which totaled $7.5 billion, a 10 percent decrease from 2018. Most of this decline was due to a 74 percent drop in corn exports, which were lower by nearly a billion dollars. The United States was South Korea’s top supplier of agricultural goods with 31 percent market share, followed by the European Union with 13 percent. The implementation of the United States-Korea Free Trade Agreement (KORUS) generated new opportunities for U.S. suppliers by reducing tariff and non-tariff barriers. Last year, the largest export growth was seen in prepared foods and beef and beef products, up $134 million and $95 million, respectively. Additionally, U.S. exports of soybeans, rice, and feed and fodders grew by $69 million, $46 million, and $46 million, respectively. Exports of fresh fruits, pork and pork products, and wheat were also down $86 million, $77 million, and $67 million, respectively. In 2019 South Korea was the top market for U.S. soybean oil, fresh oranges, and fresh cheese.

More information from the 2019 U.S. Agricultural Export Yearbook

Data & Analysis

October 22, 2020
Korea’s juice market is dominated by large domestic manufacturers. Imports, while making up less than 15% of the market, are on the rise.
October 22, 2020
The jams, jellies and preserves market is growing steadily. Domestic manufacturers are expanding their market share by launching products targeted to Korean consumers’ needs.
October 22, 2020
Growth in e-commerce and meal delivery services have opened new sales channels for soft drinks.
October 22, 2020
Growth in the Home Meal Replacement (HMR) market and Korean consumer demand for more flavors have driven up imports of condiments and sauces.