South Korea opens market to US beef products
21 April 2008South Korea has agreed to open its market to all US beef products from cattle of all ages, US trade representative Susan Schwab said in a statement. South Korea closed its market to US beef and beef products after a case of BSE was discovered in the US in December 2003. Prior to this time, South Korea was the third-largest export market for US beef and beef products.
The United States exported $815 million worth of beef and beef products in 2003, according to USTR. South Korea partially reopened its market to deboned beef from cattle less than 30 months of age in January 2006, but this reopening was subject to several interruptions and the market had been effectively closed since October 2007. 'With this full resumption of US beef exports to South Korea, a major obstacle to Congressional consideration of the United States-Korea Free Trade Agreement (KORUS FTA) is removed', said Schwab, who also expressed the hope that the agreement will put pressure on Japan, Taiwan and China to follow suit.
