Will the South Korean beef export market expand?

Published 2022년 12월 2일

Tridge summary

The Korea Meat Trade Export Association anticipates accelerated negotiations with new customers in 2022, in anticipation of South Korea's recovery as a foot-and-mouth disease-free country. This recovery could boost exports of Korean beef and pork, which currently primarily go to Hong Kong, with some new exports to Mongolia. The country is working to submit necessary data to the World Organization for Animal Health (OIE) to restore its foot-and-mouth disease-free status, which could speed up negotiations with Singapore and the Philippines. Additionally, efforts are being made to promote exports to Malaysia, the hub of the halal market, and to improve the labeling of Korean beef grades to better reflect quality and satisfy local importers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Meeting at the Meat Distribution Export Association Outlook for foot-and-mouth disease-free country recovery next year Negotiations with new customers are expected to accelerate With the urgent task of securing demand through exports in the aftermath of oversupply of Korean beef, it was predicted that the process of export negotiations with new customers will accelerate next year by recovering the country's status as a foot-and-mouth disease-free country. This discussion came out on November 30th at a meeting on Korean beef and pork exports held by the Korea Meat Trade Export Association with member companies in the association's conference room in Anyang, Gyeonggi Province. Currently, more than 90% of Hanwoo meat is exported to Hong Kong, and from this year exports are also being made to Mongolia. By November 26, exports were 39 tons, an increase of 16.9% compared to the same period last year, but a significant decrease compared to 2018 (65.2 tons), when exports peaked. ...

Source: Nongmin