Korean Market Overview U.S.–Korea

Free Trade Agreement

Agricultural Trade OfficeSeoul, Korea

November 2011

What makes Korea a good market

• 13th largest economy• 5th largest import market• 49 million consumers• $20,759 per capita income• Growing economy: 6.2 % in 2010; 4.5%

projected in 2011• Strong ties to U.S.• Women in workforce • Urbanized – 80%• Slowing agricultural output

Liberalization of Korea’s Agricultural Market

Negotiating with: Australia, Canada, New Zealand, Mexico, GCC, Colombia, Turkey

KOREA

ASEAN2007

EFTA2006

India CEP

2010

EU 2011CHILE

Peru

Singapore2006

U.S.

The United States is well-positioned as the dominant supplier…

Growing our 5th Largest MarketU.S. Exports - $5.8 Billion in 2010

BULK CONSUMER INTERMEDIATE FISHERY FORESTRY$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

Coarse Grains

Wheat

Soybeans

Cotton

Rice

Red Meats,Fresh/Chilled/Frozen

Other Consumer Oriented Produc

Fresh Fruit

Processed Fruit & Vegetables

Tree Nuts

Hides & Skins

Feeds & Fodders (Exc Pet Food)

Maintain Markets for Corn, Wheat, Soybeans, Soymeal

Corn wheat soybean soybean meal0%

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ROWSerbiaRussiaIndiaHungaryChinaCanadaBrazilAustraliaArgentinaU.S.

Expand Intermediate andConsumer-Oriented

Beef Pork Cheese Cotton0%

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ROWURUGUAYNEW ZEALANDEUCHILECANADABRAZILAUSTRALIAUNITED STATES

Expand Intermediate andConsumer-Oriented

Fresh fruit Hides&Skins Other Consumer Oriented

Wines0%

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ROW THAILAND PHILIPPINES NEW ZEALAND JAPAN EUROPEAN UNION CHINA CHILE CANADA AUSTRALIA UNITED STATES

Participate in U.S. Promotional Activities

•Culinary CampHRI•Food and Hotel SeoulHRI/RETAIL

•Busan SeafoodSeafood

www.atoseoul.com