The Republic of Korea (ROK) offers excellent opportunities for U.S. exporters and suppliers of agricultural and food products. The ROK heavily depends on imports, importing over $45 billion in agricultural and related products in 2024, of which the United States supplies about 21 percent, making it the largest supplier. The United States exported $8.9 billion worth of agricultural and related products to the ROK in 2024, resulting in the ROK being the fifth-largest country export market for the United States in this category. The ROK’s ongoing demographic changes such as a declining birth rate, reduced scales of households, and an ageing population are reshaping the market. Consumers increasingly value convenience, nutrition, value-for-money products, among others. U.S. companies are encouraged to tap into the market by noting these trends and utilizing the country’s open trade environment.

With limited domestic production and increasing consumer demand, Korean imports of tree nuts continue to grow steadily, recording a compound annual growth rate of six percent over the last five years. In 2024, the United States dominated the market, accounting for roughly 87% of the market share for imported tree nuts.