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?South Korea is the fifth largest U.S. market for agricultural products. This is the size of Indiana with 46 million people. South Korea is normally a $3-4 billion market for U.S. agricultural, fishery and forestry products. In rough terms, this market breaks out to about 30 percent bulk commodities, 25 percent intermediate goods, 35 percent for high value products.
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Despite the current economic difficulties, the fact that Korea is 60-70 percent directly or indirectly dependent on food imports makes for an excellent outlook for many food and beverage exports. This is especially true for consumer-ready products which have enjoyed rapid double-digit growth through most of the 1990's. Prospects are especially good for cake mixes, coffee, frozen fruits and vegetables, wines, meat, confectionery and convenience foods. ?Recent trends and events contributing to the expected expansion are:
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 A general globalization and Westernization of tastes.
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The high percentage of younger consumers with a growing taste for imported foods
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An increasing number of working women and two income families who demand more convenience foods
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The decline in per capita consumption of rice and the moving away from rice-based foods to wheat, corn, meat, and potato-based foods
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The spread of conventional ovens, microwaves, and refrigerators
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For more detailed information about the Korean market see the Exporter Guide 2004.
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