September 25, 2008
   
US beef rapidly gaining market share in South Korea
     


A few months ago, import of US beef was taboo, three months after imports resumed on 26 June 2006, US beef are seen as gems.
 

Just a few months ago, the streets of downtown Seoul were occupied by demonstrators protesting against the imported US beef and according to polls, majority of people said they would not eat US beef because it was unsafe, but just three months after imports resumed on 26 June 2008 under quarantine requirements, demands for US beef rocketed in terms of market share for imported beef, after Australian products.

 

Sales rose sharply just before the Korean Thanksgiving holiday also known as Chuseok; between Sept 1 and 10. It even topped the imported beef market chart with a 48 percent market share.

 

Over 11,300 tonnes of US beef have now passed the quarantine control and hit the shelves in Korean stores, 3,688 tonnes from Sept 1 to 10. During that period, the market share of US beef was 48.1 percent, jumping from 23.9 percent in July and 24.3 percent in August. From August, not only frozen beef but also refrigerated beef were imported.

 

Fears on mad cow disease is fading, and public interest in the People's Association for Measures Against Mad Cow Disease, which organized the protests, is waning.

 

However, US beef is still unpopular among young mothers in their 20s and 30s.

 

The renewed interest has made several superstores and department stores rethink their  decision not to sell US beef for fear of protests.

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