Korean Market Overview U.S.–Korea Free Trade Agreement
10
Korean Market Overview U.S.–Korea Free Trade Agreement Agricultural Trade Office Seoul, Korea November 2011
description
Korean Market Overview U.S.–Korea Free Trade Agreement. Agricultural Trade Office Seoul, Korea November 2011. What makes Korea a good market. 13 th largest economy 5 th largest import market 49 million consumers $20,759 per capita income - PowerPoint PPT Presentation
Transcript of Korean Market Overview U.S.–Korea Free Trade Agreement
Korean Market Overview U.S.–Korea
Free Trade Agreement
Agricultural Trade OfficeSeoul, Korea
November 2011
What makes Korea a good market
• 13th largest economy• 5th largest import market• 49 million consumers• $20,759 per capita income• Growing economy: 6.2 % in 2010; 4.5%
projected in 2011• Strong ties to U.S.• Women in workforce • Urbanized – 80%• Slowing agricultural output
Liberalization of Korea’s Agricultural Market
Negotiating with: Australia, Canada, New Zealand, Mexico, GCC, Colombia, Turkey
KOREA
ASEAN2007
EFTA2006
India CEP
2010
EU 2011CHILE
Peru
Singapore2006
U.S.
The United States is well-positioned as the dominant supplier…
Growing our 5th Largest MarketU.S. Exports - $5.8 Billion in 2010
BULK CONSUMER INTERMEDIATE FISHERY FORESTRY$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
Coarse Grains
Wheat
Soybeans
Cotton
Rice
Red Meats,Fresh/Chilled/Frozen
Other Consumer Oriented Produc
Fresh Fruit
Processed Fruit & Vegetables
Tree Nuts
Hides & Skins
Feeds & Fodders (Exc Pet Food)
Maintain Markets for Corn, Wheat, Soybeans, Soymeal
Corn wheat soybean soybean meal0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
ROWSerbiaRussiaIndiaHungaryChinaCanadaBrazilAustraliaArgentinaU.S.
Expand Intermediate andConsumer-Oriented
Beef Pork Cheese Cotton0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
ROWURUGUAYNEW ZEALANDEUCHILECANADABRAZILAUSTRALIAUNITED STATES
Expand Intermediate andConsumer-Oriented
Fresh fruit Hides&Skins Other Consumer Oriented
Wines0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
ROW THAILAND PHILIPPINES NEW ZEALAND JAPAN EUROPEAN UNION CHINA CHILE CANADA AUSTRALIA UNITED STATES
Participate in U.S. Promotional Activities
•Culinary CampHRI•Food and Hotel SeoulHRI/RETAIL
•Busan SeafoodSeafood
www.atoseoul.com
