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The imported beer market in South Korea continues robust growth due to strong consumer demand for products of diversified taste and higher quality.
Korea continues to meet its mandatory import volume of 408,700 metric tons (MT) from Most Favored Nation (MFN) countries, with purchases of 138,610 MT (milled) from the United States in CY 2017.
On December 26, 2017, Korea issued an updated list of adjustment tariffs and voluntary tariff rate quotas (TRQs) for certain agricultural, forestry and fishery products....
The updates include the merging of the Livestock Code to the Food Code, new food safety policy measures, the updated list of MFDS’s recognized Halal and Kosher certification body, biotech labeling....
Updates on certificates for shell eggs and egg products, temperatures of egg products and document requirements for processed food products to be exempt from mandatory biotech labeling requirements.
In February 2017, Korea implemented new biotech labeling requirements for any food with detectable biotech ingredients. In May 2017, the National Seed Management Agency (NSMA) found....
Distiller’s dried grains with solubles (DDGS) are a byproduct of corn ethanol production. This derivative is primarily used in compound animal feeds as a vegetable based protein.
Citrus production in Marketing Year (MY) 2017/2018 is projected to continue a multi-year decrease to 560,000 MT, the lowest production level for the past two decades.
Several categories of U.S. food and agricultural exports to South Korea saw significant growth in fiscal year 2017 (Oct/Sept).
U.S. agricultural exports to South Korea have grown in recent years, largely due to tariff reductions and the lifting of non-tariff barriers under the U.S.-Korea Free Trade Agreement (KORUS).
On November 14, 2017, Statistics Korea (KOSTAT) released its revised 2017 rice production estimate of 3.972 million metric tons (MMT), slightly up from 3.955 MMT....
South Korea’s imports of American food and agricultural products in 2017 through September totaled $6.3 billion, up 25 percent from the same period of the previous year.