1 / 17

South Korea: Agricultural Situation

South Korea: Agricultural Situation. October 22, 2009. Geography. Size roughly equal to the state of Indiana Only land border to the North; Surrounded by water on three sides Mountainous with no extensive plains; only 16.6% arable. Agricultural Production. Small farm size (3.7 ac)

africa
Download Presentation

South Korea: Agricultural Situation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. South Korea: Agricultural Situation October 22, 2009 Foreign Agricultural Service Seoul, Korea

  2. Geography • Size roughly equal to the state of Indiana • Only land border to the North; Surrounded by water on three sides • Mountainous with no extensive plains; only 16.6% arable Foreign Agricultural Service Seoul, Korea

  3. Agricultural Production • Small farm size (3.7 ac) • 1.2 mil farm households including 785,000 fulltime • Agriculture accounts for only 3.8% of GDP • Agricultural products: rice, root crops, barley, vegetables, fruit, cattle, pigs, chickens, milk, eggs and fish. Foreign Agricultural Service Seoul, Korea

  4. Economy • 2009 GDP could contract 2-3% • Exports: weak demand in major markets • Domestic Demand: weighed down by rising prices, fewer jobs, stock market volatility. Exports Main Pillar of Korean Economy U.S. Recession & Weaker Global Conditions Foreign Agricultural Service Seoul, Korea

  5. Economic Performance Foreign Agricultural Service Seoul, Korea

  6. Demographics • Homogeneous • 50 million people • Population growth rate declining • One of the world’s most densely populated countries • Rapid urbanization • ¼ Christian, ¼ Buddist, ½ non-affiliated Foreign Agricultural Service Seoul, Korea

  7. Consumption • Increased affluence • More women in the workforce • Well-traveled younger generation • Increased demand for international flavors • More western style family restaurants Foreign Agricultural Service Seoul, Korea

  8. Retail Market Structure • Food Sales • Traditional – 30.9% • Hypermarkets – 26.5% • On-line – 18.2% • Dept. Stores – 17.5% • On-line sales growing rapidly, 23.8% growth. Foreign Agricultural Service Seoul, Korea

  9. Trade • Top four trading partners: China, United States, Japan and Hong Kong • Major exports: semiconductors, wireless telecommunications equipment, motor vehicles, computers, steel, ships and petrochemicals. Foreign Agricultural Service Seoul, Korea

  10. Total Trade Vs. Agricultural TradeAgricultural Imports Represent 6% of Total Imports Agricultural Exports Represent 1% of Total Exports Total Exports Total Imports Total Agriculture, Fishery and Forestry Imports Foreign Agricultural Service Seoul, Korea

  11. Agriculture: Exports • Main agricultural exports: leather, seafood, cigarettes, snack foods, noodles, beverages and kimchi. • In 2008, total value of ag exports $3.6 bil. • Represents 1% of total Korean exports. Foreign Agricultural Service Seoul, Korea

  12. Agriculture: Imports • In 2008, South Korea imported $24.4 billion worth of agricultural products • 28% from the U.S. • Main ag. imports: corn, wheat, hides, soybeans, hay, pork, beef and citrus Foreign Agricultural Service Seoul, Korea

  13. Total Agricultural ImportsBulk & intermediate values up sharply in 2008 Foreign Agricultural Service Seoul, Korea

  14. Agriculture: Market Access U.S. Export Successes: Record $6.1 bil in ‘08 #3 Beef #4 Consumer-Oriented ($1.5 bil in ’08) #4 Cheese Market #7 U.S. Rice Market U.S. Export Challenges: • Biotech • Approvals • Documentation • Labeling • Children’s Food Act • No sale of high cal/low nutrition near schools • Ban on tar food colorings • Organic: ROK Accreditation 2011 Foreign Agricultural Service Seoul, Korea

  15. Agriculture: Market Access Korea-U.S. Free Trade Agreement Two-thirds of U.S. farm products become duty free immediately. American Farm Bureau Federation predicts agreement, once fully implemented, could provide $1.6 billion in additional U.S. ag exports. Supported by more than 40 U.S. agricultural and food associations. http://www.fas.usda.gov/itp/us-koreafta.asp Foreign Agricultural Service Seoul, Korea

  16. Resources Attaché Reports at http://www.fas.usda.gov Exporter Guide Retail Food Sector Brief Food and Agricultural Import Regulations (FAIRS) Briefs on organic sector, seafood, fresh cherries, avocados, honey, grapefruit, nuts, wine, apples, tomatoes, grain, citrus, potatoes, dairy, beef, pork, chicken, planting seeds, grapes, asparagus, etc. Foreign Agricultural Service Seoul, Korea

  17. Thanks! www.FAS.USDA.gov www.ATOSeoul.com Foreign Agricultural Service Seoul, Korea

More Related