May 14, 2012

South Korea continues to buy US Beef

After investigations showed no imminent threat to the health and safety of the public, the South Korean government on Friday (May 11) reiterated that it will continue to import US beef.

The Ministry for Food, Agriculture, Forestry and Fisheries had dispatched officials to the US in late April to investigate on the country's first case of mad cow disease in six years.

"Through the investigation at the site and examination by experts, (we've) confirmed that importing beef from the US will not be a problem for the local public's health and safety," Minister for Food, Agriculture, Forestry and Fisheries Suh Kyu-yong told reporters in a televised briefing.

South Korea will, however, stick to its plan of strengthening inspection at ports of entry "for a while," to reassure the public, Suh said.

Following the announcement, South Korean conglomerate Lotte Group's Lotte Mart chain issued a statement saying it would resume the sale of US beef from Saturday (May 12). It said it would actively respond with measures, including temporarily halting sales again, should more problems be detected.

On April 25, two major South Korean retailers--Lotte Mart and Tesco Corp.'s (TESO) HomePlus--pulled American beef from their shelves, reacting swiftly to reports of mad cow disease. Homeplus had quickly resumed sales after a nine-hour halt.

Mad cow disease, which can cause fatal illness in those who eat infected cattle products, is a particularly sensitive issue in Korea's trade relationship with the US.