Korea

South Korea

Market Place

  • Korea-U.S. Free Trade Agreement (KORUS FTA) effective March 15, 2012, giving U.S. egg products price competitiveness through tariff reductions, eventually going to zero in 5-12 years, depending on type of egg products
  • Korea imports three types of egg products – liquid egg yolk, egg yolk powder and egg white powder
  • Resulting from U.S. HPAI outbreak, until now, import volume of U.S. egg products has not recovered since other countries such as Italy, China, France and Demark took market share
  • U.S. egg products face strong competition from local eggs and egg products
  • Self-sufficiency ratio of fresh eggs is over 90 percent and local fresh eggs have reasonably affordable price range
  • Comparing to local fresh egg market, egg processing capability and capacity relatively weak, with some food manufacturing companies building facilities to make processed egg products, including specialty egg products in ready-to-cook form qualifying for standards of international QSR franchises in Korea
  • U.S. egg products need to attain competitiveness against low-cost domestic eggs and egg products
  • Essential to develop new usages and channels for U.S. egg products and deliver a positive message about U.S. egg products with emphasis on their superior quality, diversity, convenience, stability, cost-effectiveness and safeness

Market Opportunity

Bakery

  • Mass Production
  • Franchise Bakery
  • In-store Bakery
  • Window Bakery

Confectionary

Manufacturer

  • Mayonnaise
  • Dressing
  • Ice Cream
  • Noodles

Foodservice

  • Hotel & Restaurant
  • QSR (Quick Serve Restaurant)
  • Mass Catering

Objective: To educate target groups to make use of U.S. egg products, by organizing educational events

Strategy: Concentrate on educating importers and end-users about U.S. egg products’ quality, diversity, convenience, stability and safeness by providing necessary technical information and proper usage instructions due to limited technical knowledge of how to utilize U.S. egg products.


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