TSCRA Daily News Update, April 25, 2008

Korea agrees to accept all U.S. beef

Following the release of FDA's enhanced feed rule, the Korean government agreed to expand their pending trade protocol to include all U.S. beef and beef products from cattle of all ages in accordance with World Organization for Animal Health (OIE) guidelines.

U.S. and Korean officials announced a trade protocol on April 18 that will allow the United States to resume exports of beef to South Korea as early as May 15.

Prior to December 2003, South Korea represented the third-largest market for U.S. beef and beef variety meat exports, valued annually at $815 million. For U.S. beef producers, South Korea potentially represents a $1 billion market and could grow to be the United States top beef customer.

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