A strong U.S. dollar and increased competition from export-oriented competitors have eroded market share of American products in Korea. However, despite the challenging market environment, imports of consumer-oriented American products are forecast to remain strong, which reflects Korean consumers’ increased demand for better value, quality and diversity. As a result, the United States should remain the leading agricultural exporter to Korea with over 21 percent market share and Korea should remain the fifth largest export market in the world for American agriculture in 2016. The Korea-United States Free Trade Agreement, implemented in March 2012, coupled with the anticipated recovery of the Korean economy, is expected to generate greater opportunities for American products in Korea in the coming year.

Currently table-stock potatoes from the PNW have been banned. The chip-stock market is open to U.S. imports.

Market Notes:

Table-Stock Market closed to PNW - ongoing negotiations to reopen. Chip-Stock Eligible potatoes from Idaho must be accompanied by a PC with the following additional declaration (AD): “Potatoes in this shipment were produced and packed outside Bingham and Bonneville county of Idaho.”

Helpful Links:

• Exporter Guide 11-21-2017
• FAQ for Table-stock Exports to Korea
• Requirements for Growing and Shipping Table-stock Potatoes to Korea
• Food and Agricultural Import Regulations and Standards - Narrative 1-26-2018
• Operational Guidelines: U.S. – Korea Table Stock and Chipping Potato Protocols (March 2018)