Pork market in South Korea

Earlier Report Observations

South Korea's pork production increased steadily from 1 329 thousand tons in 2018 to 1 435 thousand tons in 2023, while the total market volume showed fluctuations, reaching a peak of 1 962 thousand tons in 2022. The expansion was facilitated by the development of cold storage infrastructure and a shift toward integrated one-stop logistics services from 2018, which enhanced supply chain efficiency for perishable goods.

Growing demand for convenience meals and advances in quick-freezing technology drove the frozen food market, boosting pork usage in processed items. By 2022, consumer preferences had shifted markedly from freshness and origin toward price and quality, leading imported pork's share of sales to rise to 46%, with Canadian product gaining significant ground.

High production costs and inflation pressured the meat industry in 2023, dampening consumption of cuts like pork belly. However, demand for foreleg meat used in processing remained strong. The home meal replacement trend, supported by an expanding range of Korean pork-based products and improved quality of imported meat, continued to influence the market into 2024.

Production pork in South Korea

In kind, 2017-2020, K t

From 2017 to 2020, South Korea maintained the 15th position globally in pork production volume.

Top producers of pork, 2017-2020

World map of production of pork, 2017-2020

Pork production in South Korea increased for the third consecutive year. In 2020, the country produced 1 403 K t of pork, marking a 2.9% year-over-year rise. Between 2017 and 2020, production grew by 9.6%, which translates to an annualized rate of 3.1%.

Annual dynamics of production in South Korea in kind, 2017-2020, K t

Exports pork from South Korea

Exports in kind, K t

The market exhibited significant volatility during these years, with a peak in 2020 and a trough in 2018, showing a 22-fold difference. In 2020, South Korea's pork exports reached 0.8 K t, representing a sharp increase of 1,288.6% compared to 2019. The minimum value was recorded in 2018 at 0.0 K t, with the largest decline that year at 89.5%.

Annual dynamics of product's exports from South Korea in kind, 2017-2020, K t

Between 2017 and 2020, Hong Kong and Thailand dominated as the primary markets for pork exports in kind, jointly accounting for 93.5% of total flows, while other countries made up the remaining share.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South Korea in kind, 2017-2020

Exports in value, M $ US

The market showed an unstable trend throughout the period, with volumes reaching their maximum in 2020 and dropping to a minimum in 2018, a 13.1-fold shift. In 2020, South Korea's pork exports amounted to 4 M $ US, reflecting a dramatic improvement of 806.9% year-over-year. The minimum value was recorded in 2018 at 0.3 M $ US, with the largest decline that year at 34.3%.

Annual dynamics of product's exports from South Korea in value, 2017-2020, M $ US

Throughout 2017–2020, Hong Kong concentrated 88.8% of total pork exports in value terms, while the remaining volume was distributed among many countries with smaller individual shares.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South Korea in value, 2017-2020

Imports pork to South Korea

Imports in kind, K t

South Korea's volume of pork imports declined for the second consecutive year. In 2020, imports were recorded at 417.8 K t, which is 20.4% lower compared to the previous year. Between 2017 and 2020, imports decreased by 14.6%, equating to an annualized rate of 5.1%. The maximum value was recorded in 2018 at 571.2 K t, with the largest increase that year at 16.7%.

Annual dynamics of product's imports to South Korea in kind, 2017-2020, K t

From 2017 to 2020, the United States (34.3% of imports in kind), Germany (21.0% of imports in kind), and Spain (13.2% of imports in kind) played leading roles in pork imports to South Korea, jointly accounting for 68.4% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South Korea in kind, 2017-2020

Imports in value, M $ US

Cross-border shipments of pork to South Korea declined for the second consecutive year. In 2020, imports amounted to 1 382 M $ US, showing a reduction of 13.6% compared with 2019. Over the period 2017-2020, imports decreased by 9.5%, with a compound annual growth rate of 3.3%. The maximum value was recorded in 2018 at 1 734 M $ US, with the largest increase that year at 13.5%.

Annual dynamics of product's imports to South Korea in value, 2017-2020, M $ US

In 2017–2020, the United States (29.7% of imports in value terms), Germany (22.0% of imports in value terms), and Spain (14.0% of imports in value terms) were the largest suppliers of pork to South Korea, together forming 65.7% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South Korea in value, 2017-2020