July 27, 2010

US beef gains popularity in South Korea

A major South Korean supermarket chain recently launched a promotion for US T-bone steaks in 85 stores, marking the first time this cut has been offered in the retail sector since Korea resumed imports of US beef.

The US Meat Export Federation (USMEF), with support from the beef checkoff, began promoting high-end steaks to South Korean retailers several months ago. Part of the promotion involved USMEF hosting nine representatives from Lotte Mart for a tour of the US beef industry.

Lotte Mart officials were impressed enough not only to initiate the T-bone promotion, but also to feature US beef tenderloin and strip loins. The retailer now carries six chilled US beef cuts and eight frozen beef items.

Through May, Korea climbed to third place in 2010 US beef export volume at nearly 82 million pounds. This is a 66% volume increase over last year. More recent weekly data from the USDA Foreign Ag Service shows Korea has been importing nearly the same amount of US beef as Mexico, currently the largest US beef customer.