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Korea - Republic Of > East Asia and the Pacific + South Korea

As part of a broad push towards reducing carbon emissions in the aviation sector, the newly elected Labour government is seeking to bolster the United Kingdom’s (UK) Sustainable Aviation Fuel (SAF) industry, which builds on initiatives and policies...

On October 30, the Department for Business and Trade (DBT) extended over 220 voluntary tariff suspensions announced following the 2021 and 2023 application periods, through June 30, 2026. The announcement synchronizes multiple expiration periods...

In September 2024, a National Assembly member submitted a draft revision of the Act on Transboundary Movements of Living Modified Organisms, commonly referred to as the LMO Act.

Korea’s wine import sector has been undergoing a stabilizing phase since the explosive growth around 2021. In 2023, wine imports reached 506 million USD, down 12.9 percent from the previous year, totaling 56.5 million kg, a decrease of 20.4 percent compared to 2022.

Korea’s fresh pear production is projected to rise by 10.2 percent to 202,000 metric tons (MT) in marketing year (MY) 2024/25, helped by favorable weather and lower incidences of diseases and pests compared to the previous year.

The United Kingdom (UK) is the largest consumer of wood pellets, globally. UK wood pellet regulations have not significantly diverged from the European Union (EU) following Brexit.

Market share of U.S. corn in South Korea is expected to remain strong in MY 2024/25 after rebounding to 20 percent in MY 2023/24. Domestic rice production continues its slow decline as the government incentivizes farmers to switch to planting alternate crops.

The United Kingdom is still facing a cost-of-living crisis. In October 2024, businesses and consumer confidence indexes dropped to the lowest level this year as uncertainty looms with regards to the newly elected Labour administration and what they may announce in the October 30 government budget.

Following the departure of the United Kingdom (UK) from the European Union (EU) in 2021 there was optimism that the UK would adopt a more scientific and proportionate approach to the regulation of genetically engineered (GE) and genetic technology products.

Korean seafood imports totaled $5.93 billion in 2023, down 8.3 percent from 2022. Korean 2023 seafood imports from the United States totaled $203 million, a decrease of 11.4 percent year-to-year.

FAS/Seoul forecasts Korea’s 2025 milk production to decrease to 1.92 million tons. Korean milk production continues to decline in line with industry contraction and demographic-driven consumption declines.