ATO Seoul Organizes U.S. Pavilion at Seoul Food & Hotel Show 2022, KINTEX, June 7-10, 2022

ATO successfully organized a U.S. pavilion at the 2022 Seoul Food & Hotel Show in Seoul, Korea from June 7-10, 2022. Twenty-three U.S. companies and trade associations joined the pavilion, showcasing a wide range of products, including nuts, cherries, condiments, sauce, dairy products, nutritional snack, candies, chips, popcorn, alcohol beverages, organic and natural ingredients, and health supplements.

ATO organized a full program for U.S. exhibitors, including a seminar, market tour, and networking event to hep participants better understand the market and develop connections with business partners in Korea.

The U.S.-Korea Free Trade Agreement (KORUS FTA) has eliminated tariffs on over two-thirds of U.S. food and agricultural products. In 2021, the United States exported a record $9.4 billion in food and agricultural products to Korea, 54 percent higher than in 2012 when the KORUS FTA was signed. The United States also imported a record $1.2 billion in Korean food and agricultural products, a 162 percent increase from 2012.

Craft Brewing Ingredient Buyers Trade Mission to the 2022 Craft Brewers Conference & BrewExpo America (Minneapolis, MN - May 2022)

ATO Seoul hosted a delegation of Korean brewers to the Craft Brewers Conference & BrewExpo America in Minneapolis, MN held in May 2022 to help U.S. suppliers expand exports to South Korea. The delegation consisted of two importers, six brewers, and four people from the beer industry. The program educated Korean brewers about the quality, value, and diversity of American brewing ingredients through field trips and meetings with local American breweries. The activity generated over 118 serious business contacts between Korean buyers and American suppliers.  The activity generated $1,007,962 sales of U.S. hop pellets and hop extracts. It is expected to generate an additional $242,181 in sales of U.S. hops, craft puree, fruit concentrate, yeast, and malt.

Korean Seafood Trade Mission to Seafood Expo Global 2022 Leads to $5.5 million in Potential Export Sales

ATO Seoul brought five Korean seafood importers to the Seafood Expo Global (SEG) held in Barcelona, Spain, April 26-28, 2022. This trade mission introduced the Korean importers to American seafood products and suppliers at SEG. The trade mission resulted in several contracts for U.S. seafood signed on the spot as well as an estimated $5.5 million in potential purchases from U.S. seafood suppliers over the next 12 months. Korea imported $217 million of U.S. seafood products in 2021. Korea is the United States fourth largest seafood export market.