Korea

Market Snapshot

skorea grid

skorea chart

Coarse Grain S&D

  • Nearly completely reliant on foreign suppliers for feed grains.
  • Negligible domestic grain production (producing less than 3% of total demand).
  • GSM-102 program ensures U.S. market share in Korea.

Market Overview

  • Population: 49 million
  • Asia’s fourth largest economy (GDP of $986 billion).
  • GDP growth: 6.1%
  • Very high per capita purchasing power.
  • Consumers moving away from cereal grains to diets higher in animal protein (outside of fish).
  • Very low unemployment rate helping to lead Korea out of global recession faster than most of the region.

Market Growth Potential

  • Stagnant population growth and aging.
  • Net population loss by 2018 as families are having less than 2.1 children per household.
  • Will always be a net importer of food/agricultural products.
  • Domestic agriculture competing with service and manufacturing industries.
  • Farm land competing with housing.
  • Economy still growing 5% a year on average.
Byong Ryol

Office Contact Info

Room 303, Leema Building
146-1 Susong-dong, Jongno-gu
Seoul 110-755, Korea

Phone: 011-82-2-720-1891
Fax: 011-82-2-720-9008
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.