U.S. reclaims lead in beef exports to S.Korea

The U.S. has become the largest beef exporter to Korea for the first time in eight years, beating Australia.

According to the S.Korea's Ministry of Food and Drug Safety on Monday, Korea imported 10,551 tons of beef from the U.S. from Oct. 1 to 20, 2,169 tons more than from Australia. In frozen beef imports alone, the U.S. already overtook Australia in August.

The main reason is that tariffs on American beef are dropping under the free trade agreement with the U.S., which took effect in 2012, and demand has increased as consumers shed their memories of a mad cow disease panic in 2008.

American beef dominated the S.Korean market after liberalization of the beef market in 2001, but S.Korea banned imports when mad cow disease broke out in the U.S. in 2003.

It partially lifted the ban in 2008, but false news reports alarmed thousands, whose protests paralyzed government for weeks.

(THE CHOSUNILBO)