Executive Summary

The Republic of Korea (ROK) had the 12th largest economy in the world with a GDP of $1.87 trillion and a per capita GNI of $36,624 in 2024. It is about the size of Indiana, with a population of 51.8 million. Over 80 percent of Koreans live in urban areas. Domestic production meets only 46 percent of food demand. The United States exported $8.9 billion in agricultural and related products to the ROK in 2024, making it our fifth largest country export market. The United States supplies around 21 percent of the ROK's agricultural imports.

Consumer-Oriented Agricultural Imports

In 2024, the ROK imported consumer-oriented agricultural products totaling around $20.6 billion. There are many opportunities for U.S. export growth in this segment, including for beef, pork, fruits, tree nuts, dairy products, confectioneries, beverages, and further prepared foods.

Food Processing Industry

In 2023, Korea had over 31,075 food processing companies, which generated $65.0 billion in sales. Korean food processing companies rely heavily on imported commodities and ingredients. Imports of basic and intermediate agricultural products totaled $16.9 billion in 2024. Eighteen percent ($3.2 billion) of these imports came from the United States.