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US beef takes up 53 percent of Korean import market in 2019

10 March 2020

SOUTH KOREA - The United States accounted for more than half of the South Korean market for imported beef last year, data showed Monday, widening the gap with its top rival, Australia.

South Korea imported 235,716 tons of US beef in 2019, 53 percent of the total beef imports, according to the data compiled by the US Meat Export Federation.

It was the third consecutive year US beef took the top spot in the South Korean market. US beef accounted for 50.7 percent and 46.8 percent of the import market in 2018 and 2017, respectively.

Australia followed with 40 percent, down 5.5 percentage points from two years earlier, the data also showed. New Zealand took the third spot with 3.6 percent.

The federation attributed American beef's strong demand in South Korea to the rising popularity of the home-meal replacement market.

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Source: Yonhap News Agency

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