ATO Seoul Travel to Jeju, Korea

ATO Seoul traveled to Jeju, Korea to meet with the Korean Thoroughbred Breeders Association and tour the Korea Racing Association stud farm. In October 2011, a buying mission of Korean breeders will travel to Ocala, Florida to attend the fall horse auction. U.S. racehorses have enjoyed considerable success in Korea and American bloodlines are popular among breeders. In 2010, Korea imported horses valued at $20.3 million and the United States captured about 65 percent of the market. Demand for horses is expected to remain strong as a new race track will open in 2015 and the government promotes sector development through the “Horse Industry Development Act”. To learn more about export opportunities and the Korean equestrian sector please read Horse Market Brief.

2011 Organic Natural Exhibition, Seoul, Korea

ATO Seoul participated in the 2011 Organic and Natural Exhibition in Seoul, Korea on July 15-17 where it teamed up with three major Korean importers and distributors of U.S. organic product and a local manufacturer of energy bars that uses U.S. ingredients. The U.S. pavilion attracted considerable attention from the show’s 35,000 visitors and exhibitors estimated sales resulting from the show at $450,000 over the next 12 months. Health and wellbeing is an important marketing theme in Korea and it was noteworthy how prominently the USDA Organic logo was displayed by venders of both food and cosmetics throughout exhibition hall. The logo has clearly become a trusted seal for Korean consumers.

The Korean organic food market continues to expand. In 2009, the market was estimated at $3.1 billion, up 17 percent from the previous year. Major Korean food manufactures are entering the market and the processed organic food sector is growing at an annual rate of about 25 percent. While Korean organic production is increasing, the growth of the processed product market is fueled by imports, primarily from the United States and Europe. To learn more about the Korean organic food market please read Organic Product Market Brief Update.