‘Better for You’Trade Mission Visits Korea, December 6-7, 2012

Nine U.S. food companies participated in the Food Export USA Midwest Better-For-You Foods Trade Mission and drew considerable attention from Korean importers and distributors. New to market organic food products, natural snacks, ice cream, berries and nuts were introduced to more than 150 Korean buyers attending one-on-one business meetings and welcome reception. A seminar highlighting the market and nutritional benefit of American wild blueberries was presented by Wild Blueberry Association of North America. Through post Mission surveys, participating companies reported on site sales totaling $100,000 and expected sales of $5.97 million over the next 12 months. Calling the Mission a huge success, companies also reported that this activity helped develop contacts with 147~152 importers and retailers and more than 9~13 new distributorships.

Busan International Seafood & Fisheries Expo 2012, November 15-17, 2012

Pan-seared Chesapeake Bay ray wings in bean paste sauce and scallops prepared by Virginia chef John Maxwell was enjoyed by appreciative crowds including Mr. Huh, Nam Shik, Mayor of Busan City at the U.S. Pavilion at the Busan International Seafood & Fisheries Expo. ATO Seoul teamed up with the Southern United States Trade Association (SUSTA) and U.S. seafood suppliers to exhibit U.S. croaker, blue crab, lobster, snapper, mackerel, scallop, eel, Chesapeake Bay ray and more at the 10th annual exhibition held in Busan, Korea. The United States exports more than $110 million in seafood products to Korea annually, and this year’s sales are tracking about 21 percent ahead of last year’s pace. For more information on the Korean seafood market please read ATO Seoul Seafood Products Annual Report April 2012

Florida Sunshine Arrives in Korea

Newly harvested Florida grapefruit were featured in Hyundai Department Store in Mok-dong, Seoul, Korea when Mr. Dan Sleep, Florida Department of Agriculture and Consumer Services visited Seoul to launch this year’s promotional campaign on November 10, 2012.

U.S. grapefruit, which dominates the Korean market with a 90 percent market share, has enjoyed considerable success in recent years. From 2006 to 2011, Korean imports from the United States grew from $2.7 million to $11.4 million, a 320 percent climb. Although typically priced higher than imported oranges, grapefruit is increasing in popularity, and Red Ruby variety is a favorite of Korean consumers because of its sweet and mild taste. Purported health benefits of consuming grapefruit for an aging population are expected to stimulate demand into the future.

Under KORUS FTA, the 30 percent import duty on grapefruit from the United States will be phased out over a 5-year period. U.S. grapefruit will enter the Korean market duty free on January 1, 2016. To learn more about new trade opportunities please see KORUS FTA.