Working together to form a reasonable South Korean beef price

Updated Mar 15, 2023
The government, Korean beef farmers, distributors, and consumers are drawing attention as they unite for a reasonable Korean beef price. The Ministry of Agriculture, Food and Rural Affairs, the Korean Beef Raising Management Committee, the National Korean Beef Association, Nonghyup Economic Holdings Livestock Economy, Korea Chain Store Association, E-Mart Co., Ltd., Homeplus Co., Ltd., Lotte Shopping Co., Ltd. With the participation of a total of 9 institutions and organizations, including Mart and Consumer Public Interest Network, the 'Win-Win Agreement Ceremony with the Government, Hanwoo Farmers, Distributors, and Consumers' was held. The event was attended by Junghee Kim, Director of Food Policy at the Ministry of Agriculture, Food and Rural Affairs, Yeonhwa Kim, Chairman of the Consumer Public Network, Kyungcheon Min, Chairman of the Korean Beef Fund Management Committee, Samjoo Kim, Chairman of the National Korean Beef Association, Chuljin Park, Managing Director of Nonghyup Economic Holdings, Youngjae Heo, Vice President of Korea Chain Store Association, Dongmin Kim, Managing Director of E-Mart, Kyungrae Lim, Homeplus Head of headquarters and Lotte Mart managing director Byung-soo Yoon attended and signed an agreement promising mutual cooperation and communication regarding the establishment of a reasonable Korean beef consumption culture and the establishment of a transparent distribution collaboration system.
Government·Korean beef farms·Distributors·Consumers Held a win-win agreement ceremony Through this agreement, △expanding the establishment of a reasonable Korean beef consumption culture △cooperating to increase mutual benefits between producers and consumers △expanding promotional activities to promote consumption of Korean beef and stabilize the Korean beef industry. In January, the wholesale price of Korean beef was 15,904 won per kg, a 16.5% drop from the same period last year. Business difficulties are deepening. In fact, the consumer public service network conducted a consumer price survey by grade and part of Korean beef at a total of 82 stores (40 large retailers and 42 meat stores) in Seoul and Gyeonggi from January 11 to 20 last year. Compared to the same period last year, the average consumer price of Korean beef sirloin fell only 16.4% and 8.7%, respectively, at hypermarkets and meat stores. Accordingly, the government, producers, and distributors plan to make ...
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