FAS/Seoul Monitoring of Media Reporting on Agricultural Issues 

Today's Date: Friday,  May 23,  2025

For Coverage:  May 16  ~  23,  2025

Despite the tariff war triggered by Trump, K-food exports remain unaffected
https://www.nongmin.com/article/20250521500607
Despite growing trade uncertainty with the launch of the second Trump administration, Korea's K-Food exports reached a record-high $2.48 billion in the first quarter of this year, a 9.7% increase from last year.  The U.S. was the largest single market, accounting for 17.9% of total exports, with $440 million—up sharply from the previous year.  While exports of ramen and fresh grapes surged, kimchi imports hit a record high due to rising domestic cabbage prices, leading to a trade deficit in that category.

Confirmation of highly pathogenic avian influenza within the country heightens concerns regarding stability of chicken supply
https://www.donga.com/news/Economy/article/all/20250521/131651139/1
Amid the suspension of Brazilian chicken imports due to recent outbreaks of highly pathogenic avian influenza (HPAI), concerns are growing over the stability of the domestic poultry supply as HPAI has also been confirmed in South Korea for the first time in a month.  According to the Central Accident Management Headquarters for HPAI on May 21, the virus was detected the previous day at two live poultry vendors in a traditional market in Gwangju.  This marks the first confirmed case in 31 days since the last outbreak at a native chicken farm in Asan, South Chungcheong Province, on April 19.

Egg prices near 8,000 won per tray despite increased production—Is price-fixing to blame?
https://www.donga.com/news/Economy/article/all/20250521/131649901/1
Egg prices in Korea have surged to their highest level in nearly four years, despite increased production, raising suspicions of possible price-fixing among producers.  The government is investigating the sudden price spike, noting that supply conditions do not justify the sharp rise, and has already conducted on-site inspections of egg farms.  With the recent ban on Brazilian egg imports due to avian influenza, concerns are growing that egg prices may climb further, putting more pressure on consumers and overall food inflation.

U.S. and China agree on major tariff cuts – U.S. meat prices expected to strengthen
https://www.nongmin.com/article/20250519500727
Following a U.S.-China agreement to significantly reduce tariffs for 90 days, global prices of U.S. meat are expected to rise sharply, with a notable increase in demand from China.  In Korea, the pork market may see increased imports of U.S. pork—especially front leg cuts—and a rebound in demand for previously sluggish frozen pork belly, as chilled pork sales improve.  Overall, Korea's pork market is projected to follow a gradual upward trend, with analysts noting that reduced tariff rates and stable domestic pork health conditions will support price recovery.

When buying meat, consumers prioritize origin over taste
https://www.nongmin.com/article/20250516500526
A recent survey found that South Korean consumers now prioritize the origin of meat over its taste when making purchases, with 26.8% citing origin as their top consideration—up from 18.8% in 2023.  However, when buying Korean beef (Hanwoo), price ranked as the most important factor, followed by grade and marbling.  In terms of beef origin preference, Hanwoo was overwhelmingly favored (74%), followed by Australian (9.4%), domestic dairy cattle beef (8.6%), and U.S. beef (7.7%).

Grape exports hit record high in Q1—Doubling in just one year
https://www.yna.co.kr/view/AKR20250516156500030?section=economy/all
South Korea’s grape exports reached a record high in the first quarter of 2025, nearly doubling from the same period last year to 1,412 tons—an 89.8% increase.  Taiwan was the largest importer, accounting for 42.1% of total exports, followed by Hong Kong, the U.S., Vietnam, and Singapore.  The surge was driven by strong demand for Shine Muscat grapes due to their high quality and sweetness, along with eased quarantine requirements for Australia, which are expected to further expand export opportunities and boost farm income.

Seminar on U.S. tariff issues and new market strategies to be held during the “2025 Seoul Food & Hotel” exhibition
http://www.foodnews.co.kr/news/articleView.html?idxno=113319
Korea Trade-Investment Promotion Agency (KOTRA) will hold a seminar on June 12^th on the theme of “U.S. tariff issues: Crisis or opportunity?  Tariff issues and new market strategies” during the 2025 Seoul Food & Hotel at KINTEX.  This seminar, co-hosted by Mintel and Food Journal, will look at the impact of recent U.S. tariff policies on the domestic food industry and provide insights into market changes and export strategies resulting from import/export regulations.

MOF - Special inspection of country of origin labeling for imported seafood products until May 5
https://www.yna.co.kr/view/AKR20250516144000030?section=industry/ocean-fishery
The Ministry of Oceans and Fisheries (MOF) announced that it will conduct a special inspection of country of origin labeling for imported seafood products from May 19^th to June 5^th in collaboration with the private sector.  The inspection will target five types of imported seafood products, including live sea bream, octopus, webfoot octopus, live scallops and squid.  The ministry explained that the inspection will target cases where the origin is not labeled or imported products are falsely labeled as domestically produced.

Russia is the largest importer of Jeju tangerines
https://www.yna.co.kr/view/AKR20250516138600056?section=industry/agriculture
According to the Korea Citrus Export Corporation, 1,775 tons of Jeju tangerines, accounting for 53% of the total 3,347 tons exported last year, were shipped to Russia, the corporation announced on May 18^th.  Russia has imported over 50% of Jeju tangerine exports every year since 2022, despite the ongoing war with Ukraine.  This is attributed to freshness and superior taste of Jeju tangerines due to Russia’s proximity to Jeju Island.

Starting from the 22nd, all agricultural products will be available at discounted prices for two weeks, with a limit of 20,000 KRW per person
https://www.nongmin.com/article/20250516500154
The government is temporarily expanding its agricultural product discount program to cover all items in an effort to stabilize food prices.  The individual discount limit will also be increased.  On the 16th, Kim Beom-seok, First Vice Minister and Acting Minister of Economy and Finance, presided over a Vice-Ministerial Meeting on Price Management at the Government Complex Seoul, where he discussed price trends and response measures for agricultural, livestock, and fisheries products.

Hanwha H&R takes over OURHOME… It brings significant changes to the global food market
http://www.foodnews.co.kr/news/articleView.html?idxno=113243
On May 15^th, Hanwha Hotels & Resorts (Hanwha H&R) finally acquired OURHOME, making the two companies a family.  Hanwha H&R has been leading the leisure market with its nationwide network of hotels and resorts, while also consistently operating its food and beverage business for many years.  OURHOME, established in 2000 with the purpose of operating a food and beverage business, has been distinguished itself in the catering and food distribution industry.  With the two companies which have achieved significant results in the leisure and food and beverage sectors over the years, their competitiveness is expected to further strengthen in the future.