U.S. Food Products Showcased at Seoul Food & Hotel Show 2018, KINTEX, May 1-4, 2018

About 40 American companies and trade associations comprising the largest pavilion within the International Hall represented a wide range of products in Korea’s biggest international food and agriculture show, Seoul Food & Hotel 2018. It is clear that renewed enthusiasm for agricultural trade between the United States and Korea is due in large part to the Korea--U.S. Free Trade agreement (KORUS FTA) implemented on March 15, 2012. In its sixth year of implementation, the KORUS FTA has eliminated or reduced duties on many American food products leading to U.S. exports of high-value, consumer oriented products to Korea reaching a record $4.3 billion in 2017. U.S. exhibitors represented a wide array of products including snack foods, beverage products, dairy products, meat and processed meat products, cooking oils, sauces, and desserts. Exhibitors reported making on-site sales of $3.1 million and many quality contacts. In addition, expected sales during the next 12 months totaling $5.9 million were preliminarily reported. For more information on export opportunities to United States’ 5th largest market please visit ATO Seoul Home Page(KORUS FTA).

Great American Craft Beer Showcase @ Seoul Int’l Wines & Spirits Expo 2018

In partnership with the Brewers Association (BA), ATO Seoul presented the ‘Great American Craft Beer Showcase’ booth at the Seoul International Wines & Spirits Expo 2018. A total of 21 American craft breweries participated in the booth, including 4 new-to-market breweries, offering an opportunity for the Korean craft beer trade and opinion leaders to experience the quality, value, and diversity of premium beer that the American craft beer industry has to offer. During two days of exhibition, over 1,000 target trade audience visited the booth. Additionally, the ‘Great American Craft Beer Seminar’ that BA presented during the show provided 50 attendees from the Korean beer and alcohol beverage industry with up-to-date information about the American craft beer industry trends and food-beer pairing ideas. Evaluation surveys indicated that the activity generated over 100 serious contacts with target Korean buyers and would bring over $100,000 of new sales of the participating American craft beers within the next 12 months. In addition, two of the new-to-market American craft breweries that participated are likely to develop Korean import distribution partners soon (launching export value estimated at $40,000).

Korean Seafood Trade Mission to Seafood Expo North America 2018 Leads to $9.3 million in Potential Export Sales

ATO Seoul recruited mission members and coordinated the visit of six Korean seafood importers to the Seafood Expo North America (SENA) held in Boston, MA, March 11-13, 2018. The program allowed the importers to meet suppliers of various American seafood products and to gain a better understanding of the U.S. seafood sector. According to the mission participants surveyed right after the activity, the trade mission resulted in $9.3 million of potential purchases from U.S. seafood suppliers over the next 12 months. In calendar year 2017, Korea imported $233 million of U.S. seafood, up 2.3 percent from $227 million in 2016.