South Korea
U.S. Trade with South Korea in 2023
Export Market Rank
#6 Among U.S. Agricultural Export Markets
Total Export Value
$7.5 Billion
3-Year Average
$8.77 Billion
Compound Average Growth
0.68% (2014-2023)
Total Export Value 2014 - 2023
Export Value by Commodity 2023
Top 10 Exports to South Korea in 2023
| Commodity | Total Value (USD) | Total Volume (Metric Tons) | 10-Year Average Value (USD) | 10-Year Growth |
|---|---|---|---|---|
| Beef & Beef Products | $2.13 Billion | 248,257 | $1.65 Billion | 151% |
| Pork & Pork Products | $632.9 Million | 190,975 | $527.03 Million | 43% |
| Wheat | $406.55 Million | 1.2 Million | $369.84 Million | -1% |
| Distillers Grains | $380.11 Million | 1.27 Million | $250.15 Million | 113% |
| Food Preparations | $343.1 Million | 11,527 | $362.14 Million | 45% |
| Fresh Fruit | $331.35 Million | 117,898 | $401.18 Million | -5% |
| Dairy Products | $320.27 Million | 85,171 | $352.99 Million | -23% |
| Soybeans | $320.1 Million | 530,012 | $317.15 Million | -11% |
| Corn | $271.35 Million | 896,598 | $716.44 Million | -74% |
| Tree Nuts | $269.85 Million | 50,559 | $307.24 Million | -25% |
Data and Analysis
Korea’s wine import sector has been undergoing a stabilizing phase since the explosive growth around 2021. In 2023, wine imports reached 506 million USD, down 12.9 percent from the previous year, totaling 56.5 million kg, a decrease of 20.4 percent compared to 2022.
Korea’s fresh pear production is projected to rise by 10.2 percent to 202,000 metric tons (MT) in marketing year (MY) 2024/25, helped by favorable weather and lower incidences of diseases and pests compared to the previous year.
Market share of U.S. corn in South Korea is expected to remain strong in MY 2024/25 after rebounding to 20 percent in MY 2023/24. Domestic rice production continues its slow decline as the government incentivizes farmers to switch to planting alternate crops.
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News and Features
Private exporters reported sales to Mexico, South Korea, and unknown destinations for MY 2024/2025.
Private exporters reported sales of 20,000 MT of soybean oil for delivery to South Korea during MY 2024/2025.
A recent USDA-sponsored agribusiness trade mission to the Republic of Korea (South Korea) proved to be a tremendous success for nearly 50 U.S. agribusinesses, cooperators, trade associations, and state departments of agriculture looking to grow and diversify U.S. exports to East Asia.