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. Despite the overall decline in imports, convenience stores have experienced double-digit growth in wine sales, largely attributed to the emergence of the consumer-friendly smart order system. As Korean customers’ taste and interest in wine evolves, imports are anticipated to rebound. In 2023, the United States maintained its position as the second largest wine supplier to Korea by value for three consecutive years.

Korean seafood imports totaled $5.93 billion in 2023, down 8.3 percent from 2022. Korean 2023 seafood imports from the United States totaled $203 million, a decrease of 11.4 percent year-to-year. The United States was the sixth largest seafood exporter to Korea in 2023, with 3.4 percent of the market. Korean consumers generally view U.S. fishery products as high-quality, but U.S. supply of species favored by Korean consumers has declined in recent years and regional competitors are price competitive.

FAS/Seoul forecasts Korea’s 2025 milk production to decrease to 1.92 million tons. Korean milk production continues to decline in line with industry contraction and demographic-driven consumption declines. FAS/Seoul forecasts 2025 cheese imports to increase to 150,000 tons as Korean demand for cheese continues a steady upward trend and consumers become increasingly interested in dairy products as a protein source. FAS/Seoul forecasts 2025 nonfat dry milk consumption to remain stable at 20,000 tons.

Korea was the 5th largest country importer of the U.S. agricultural and related products in 2023. The United States is the leading supplier of imported consumer-oriented agricultural products for Korean retail industry, shipping $4.9 billion in 2023. The outlook for U.S. products in the Korean retail industry is excellent for a wide range of products, including pork, dairy, processed fruit, fruit and vegetable juice, food preparations under HS2106, non-alcoholic beverage, and wine.

Korea’s pet food market has been growing strongly. But, while imported products have traditionally dominated the market, imports declined in 2023 for the first time in over a decade. Local competition likely contributed to the decline in imports. In 2023, the United States was the second largest supplier for imported dog and cat food, with 15.96 and 18.12 percent by of the market by value and volume, respectively. As the pet humanization trend continues, demand for premium products such as pet food with high-quality ingredients will grow further.