2002, Volume 10, Paper 3

ISSN: 1883-5675

Beef Consumption, Supply and Trade in Korea

Jung-Sup Choi – Korea Rural Economic Institute, Seoul 130-710, Korea 

Zhang-Yue Zhou & Rodney J. Cox – The University of Sydney – Orange, Orange NSW 2800

Abstract

Until recently the Korean beef market was heavily protected. However, since the beginning of 2001 there have been significant changes to beef import arrangements and their distribution channels, and the protection in the beef market has fallen. In January 2001 beef import quotas were lifted and replaced by an import tariff. The dual retail system – where domestic and imported beef are sold separately – was abolished in September 2001, and now domestic and imported beef can be sold in the same outlet. In addition, any retailer is now permitted to sell imported beef. Thanks to the WTO-led reforms, Australia can benefit from the changes in the Korean beef market. In this study, we examine beef consumption trends in Korea; Korea’s beef cattle production and its beef supply potential; beef import prospects; likely responses in the Korean beef industry as a result of the beef import tariffication; and beef trading arrangements in Korea. We also draw implications on how the Australian beef industry may capitalise on the opening up of the Korean beef market.

Download full document here