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Korea remains 2nd largest market for US beef in 2017: data

By Yonhap

Published : April 9, 2018 - 09:54

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South Korea remained the second largest export market for US beef for the second consecutive year last year, industry data showed Monday, amid the growing popularity of American meat.

South Korea imported $1.22 billion worth of US beef last year, the second only to Japan's $1.89 billion, according to figures by the US Meat Export Federation.

The amount accounts for about 17 percent of the $7.26 billion total US beef exports in 2017.

In terms of volume, South Korea ranked third with 184,152 metric tons, after Japan's 307,559 tons and Mexico's 237,972 tons.


(Yonhap) (Yonhap)

South Korea ranked first in terms of per capita imports, with 3.5 kilograms imported per person, followed by 2.4 kilograms for Japan and 1.9 kilograms for Mexico.

US beef regained its No.1 status in the South Korean market for the first time in 14 years last year, beating Australia, which had been the leading exporter of beef to South Korea since 2004.

Imports of US beef rose 24.6 percent on-year to $259 million for the first two months of 2018, representing 53.5 percent of total beef imports.

US beef had been the one of the most popular foreign meat imports in South Korea up until 2003, following the country's opening of its beef market to foreign countries two years earlier.

South Korea, however, banned imports of US beef in 2003 after an outbreak of mad cow disease was reported in the US.

As mad cow disease, or bovine spongiform encephalopathy, subsided in the US, South Korea resumed imports of boneless meat from US cattle aged less than 30 months in 2008.

BSE is a transmissible spongiform encephalopathy and a fatal neurodegenerative disease in cattle that may be passed to humans who eat infected beef. (Yonhap)

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