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ATO Seoul prepares Market Briefs on a wide range of food, beverage, and agricultural products, as well an annual exporter guide. These reports are available through the Gain Search Page.

  • Exporter Guide | Seoul ATO| December 26, 2023

    As the 5th largest country export market for the United States, Korea provides a promising market for U.S. agricultural products. In 2022, Korea imported about $50 billion agricultural and food products from all over the world and the U.S. supplied a fifth of it, ranking number one. Other key suppliers were China, Australia, Brazil, Vietnam, and Thailand. This year, Korea's overall agricultural imports are forecast to fall short of the 2022 value by 10 percent partly due to decreased demand from both the retail and processing sectors. From January to October, the U.S. exports fell below the level of last year’s record for the same period, primarily driven by reductions in grain, feed, frozen beef, and dairy product exports. However, U.S. food and agricultural products will continue to be competitive in this market in the long run considering extended consumer interests in quality, safety, and sustainability.

    Exporter Guide_Seoul ATO_Korea - Republic of_KS2023-0025
  • Korea Seafood Market Update 2023 | Seoul ATO | October 24, 2023

    Korean seafood imports totaled $6.47 billion in 2022, up 12.7 percent from the year before. Seafood for human consumption imported from the United States to Korea in 2022 reached $229 million, an increase of 5.6 percent year-to-year. The United States remains the fifth largest seafood exporter to Korea with a 3.5 percent market share. Korean consumers generally see U.S. fishery products as high-quality and unpolluted, but regional competitors often have lower prices.

    Korea Seafood Market Update 2023_Seoul ATO_Korea - Republic of_KS2023-0017 

  • Dairy and Products Annual | Seoul ATO | October 23, 2023

    Domestic production is projected to drop to 1.93 million tons in 2023 after reaching 1.98 million tons in 2021. Milk production is expected to show a downward trend due to the decreasing number of dairy farms, decreasing number of milk cows, and falling demand coinciding with the falling birth rate. On the other hand, cheese consumption, as well as demand for other dairy products such as cream and butter, is gradually increasing due to evolving tastes as well as increased awareness of the healthy proteins in dairy products. However, imports in 2023 may experience an unusual drop due to high inflation and the weakening Korean won exchange rate, particularly against the U.S. dollar.

    Dairy and Products Annual_Seoul ATO_Korea - Republic of_KS2023-0018
  • Food Service - Hotel Restaurant Institutional | Seoul ATO | October 2, 2023

    In 2021 (latest data available), sales of the HRI food service sector reached 150.76 trillion KRW (131.7 billion USD), an increase of 7.77 percent from 2020 and an increase of 4.41 percent from 2019. Coping with the pandemic, Korea’s HRI food service sector has tried to adopt modern technologies and come up with strategies for safe and convenient dining experience to meet changing demand from consumers. Since pandemic related restrictions have been lifted and consumer demand for diverse food and dining options is increasing, it is expected that the HRI sector will show a constant growth though at a slow pace due to the sluggish local economy.

    Food Service - Hotel Restaurant Institutional_Seoul ATO_Korea - Republic of_KS2023-0016
  • Retail Foods | Seoul ATO | July 5, 2023

    Korea was the 5th largest country importer of U.S. agricultural and related products in 2022. The United States is the leading supplier of imported consumer-oriented agricultural products for Korean retail industry, shipping $5.9 billion in 2022. The outlook for U.S. products in the Korean retail industry is excellent for a wide range of products, including beef, food preparations under HS2106, pork, dairy products, wine, high-volume alcohols, chocolate & food preparations under HS1806, nuts, frozen vegetables, and citrus.

    Retail Foods_Seoul ATO_Korea - Republic of_KS2023-0011

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Agricultural Trade Office, U.S. Embassy - Seoul
Tel: 82-2-6951-6848 Fax: 82-2-720-7921