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Korea’s total citrus production for Marketing Year (MY) 2020/21 (October – September) is projected to reach 660,000 metric tons (MT).
Domestic milk production is forecast to return to 2.03 million tons after spiking to 2.1 million tons in 2020.
Korea is in the process of drafting a proposal to revise its existing Living Modified Organism (LMO) Act to cover products of innovative biotechnologies, including genome edited products.
The United States exported $8.9 billion in agricultural and related products to South Korea in 2019, making it our fifth largest agricultural export market.
The significant rise of dog- and cat-owning households in East Asia presents an opportunity to increase the U.S. exports of pet food.
The long-term outlook for South Korea’s Hotel, Restaurant and Institutional (HRI) sector is positive, with strong growth up until the COVID-19 pandemic.