Salted, in brine, dried or smoked beef market in South Korea

Earlier Report Observations

The South Korean market for salted, dried, or smoked beef grew steadily from 3 854 t in 2018 to a peak of 4 440 t in 2022. This expansion was supported by a sustained increase in per capita meat consumption in the country, which helped maintain demand even as the COVID-19 pandemic temporarily reduced foodservice sales in 2020.

Production volumes contracted by 3% to 4 306 t in 2023, reversing the previous trend. The decline was driven by rising production costs at Korean beef farms, including higher labor expenses in processing and distribution, alongside global supply chain disruptions and increased international grain prices that pushed feed costs upward.

Throughout the period, the market saw growing competition from imported beef, especially from the United States, which expanded its market share. At the same time, rising consumer interest in health and environmental issues drew attention to cultivated meat and alternative proteins, introducing new dynamics to the traditional beef sector.

Production salted, in brine, dried or smoked beef in South Korea

In kind, 2017-2020, t

South Korea was one of the world's top producers of salted, brined, dried, or smoked beef from 2017 to 2020, ranking 10th globally by production volume.

Top producers of salted, in brine, dried or smoked beef, 2017-2020

World map of production of salted, in brine, dried or smoked beef, 2017-2020

South Korea's production of salted, brined, dried, or smoked beef grew for the second year in a row in 2020. Output reached 4 090 tonnes, marking a 2.0% increase from the previous year. Over the 2017–2020 period, production rose by 4.9%, averaging an annual growth rate of 1.6%. The lowest production level was in 2018 at 3 847 tonnes, which saw a 1.3% decline. In contrast, 2019 recorded the largest increase at 4.2%.

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

Exports salted, in brine, dried or smoked beef from South Korea

Exports in kind, kg

Export volumes showed an unstable trend from 2017 to 2020. The lowest point was in 2018 at 1 943 kg, while the peak occurred in 2019 at 7 698 kg, representing a 296.2% surge from the previous year. In 2020, exports dropped sharply to 3 295 kg, a 57.2% decrease compared to 2019. Overall, volumes varied fourfold between the high in 2019 and the low in 2018.

Annual dynamics of product's exports from South Korea in kind, 2017-2020, kg

From 2017 to 2020, China and Hong Kong were the dominant buyers of South Korea's salted, brined, dried, or smoked beef, together accounting for 95.1% of total exports by volume. Other trading partners played a much smaller role.

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, K $ US

Export values exhibited volatility during the observed period. The lowest point was in 2018 at 13.1 thousand US dollars, which saw a 36.8% decline. The peak came in 2019 at 66.7 thousand US dollars, reflecting a 408.0% increase from the previous year. In 2020, exports fell to 45.7 thousand US dollars, down 31.5% from 2019. Overall, values swung 5.1 times between the high in 2019 and the low in 2018.

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

In value terms, China and Hong Kong remained the key destinations for South Korea's salted, brined, dried, or smoked beef exports from 2017 to 2020, jointly making up 81.6% of total export value. Other partners contributed minimally individually.

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 salted, in brine, dried or smoked beef to South Korea

Imports in kind, kg

Import volumes experienced noticeable fluctuations from 2017 to 2020. The peak was in 2019 at 10 774 kg, which saw a 26.8% increase from the previous year. In 2020, imports plummeted to 1 152 kg, down 89.3% from 2019. Overall, volumes varied 9.4 times between the high in 2019 and the low in 2020.

Annual dynamics of product's imports to South Korea in kind, 2017-2020, kg

From 2017 to 2020, Australia was the sole supplier of salted, brined, dried, or smoked beef to South Korea, accounting for 100.0% of total imports by volume.

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, K $ US

Import values showed significant fluctuations during the period. The highest value was in 2019 at 164.6 thousand US dollars, marking a 19.7% increase from the previous year. In 2020, imports dropped sharply to 18.1 thousand US dollars, a decline of 89.0% from 2019. Overall, values swung 9.1 times between the peak in 2019 and the trough in 2020.

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

In value terms, imports of salted, brined, dried, or smoked beef to South Korea were almost entirely concentrated in Australia from 2017 to 2020, with its share reaching 100.0%.

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

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