January 14, 2008

South Korea to expedite beef trade resolution with the US

South Korea is currently increasing its efforts to address a beef trade disagreement with the US in time to help a free trade deal win parliamentary approval.

In 2003, South Korea banned beef imports from the US due to mad cow disease detected in a cattle farm in Washington.

The country partially lifted the restrictions on January 2006, allowing boneless products to be shipped into South Korea. However, the US beef imports were once again suspended last year after bone fragments were discovered from US beef shipments.

Currently, the US is asking for a total access to the Korean market as far as beef imports are concerned, with no restrictions on the ages of cattle.

According to South Korean officials, the Ministry of Foreign Affairs and Trade reported to President-elect Lee Myung-bak that the government will speed up the resolution of the beef trade spat, thus pressing the US Congress to sign the trade agreement.

South Korea and the US signed the trade pact, considered as the biggest deal since the North American Free Trade Agreement in 1994.