South KoreaEconomy, Beef Consumption And Imports Of U.S. Beef All Recovering ...

South Korea

South Korea is experiencing strong economic growth (a 6 percent increase in GDP is expected by the end of 2002) and beef consumption is rising in consequence. Korea imported 19.8 percent more beef in July compared to June. According to just-released figures from the Korean government, beef imports from January to July 2002 totaled 168,236 mt, 93 percent higher than the equivalent period in 2001. The United States has dominated the 2002 Korean beef import market, providing 105,814 mt — a 62 percent market share — compared with 47,348 mt in the first seven months of 2001. Australian imports amounted to 43,630 mt, a 26 percent market share.

Click for USMEF Annual Board of Directors Meeting Information and Registration Form; November 6-8, 2002 - Long Beach, California