Skip to main content

korea

U.S. Foods and Beverages Attract Crowds at Korea Trade Show as United States Pushes U.S.-Korea Trade Agreements

Approximately 40 U.S. food companies from every region of the United States set up shop last week at the annual Seoul Food and Hotel 2011 Trade Show, the largest food show in Korea. This year, excitement in the U.S. pavilion was particularly high as the United States recently concluded negotiations with South Korea on the pending U.S.-Korea trade agreement (KORUS), which will provide American agriculture with improved access to Korea’s $1 trillion economy.

The United States is already Korea’s top supplier of a broad variety of food and farm products. U.S. agriculture, fish and forestry exports to Korea totaled $5.8 billion in 2010, making Korea the fifth largest export market for U.S. farm products. Under the KORUS, American products will become significantly more affordable for Korea’s 49 million consumers, since the trade agreement will eliminate most of Korea’s tariffs (taxes on imports).

Sharing the Benefits of KORUS in North Carolina

This week, I traveled to North Carolina and partnered with Korean Ambassador Han Duk-soo, the U.S. Chamber of Commerce and others in support of the U.S.-Korea Trade Agreement or KORUS.

The Obama Administration recognizes that exports are vital to the health of the agricultural sector and our nation’s economy as a whole. That’s why we’re working hard to ensure passage of the KORUS agreement, as well as the pending free trade agreements with Colombia and Panama.