A Strategy for the Expansion of Korean Agricultural Exports to the U.S

Jaesoo Kim

Journal of Rural Development/Nongchon-Gyeongje, 2003, vol. 26, issue 4

Abstract: The US agricultural system has served the nation exceedingly well so far, but the situation facing US agriculture has been changing rapidly. To meet the needs of the future, agriculture and agricultural policy has been reappraised. Decreasing farm incomes, globalization, and consumer-driven policy needs have been the major issues for the policy makers. The agriculture sector, however, has remained strong, and its contribution to the national economy is stable. Total agricultural exports in 2002 amounted to $53.3 billion, creating a $12.3 billion trade surplus. Korea's agricultural exports to the US reached around $ 213 million, comprising a variety of products. Although Korea's agricultural exports to the US has remained around $200 million for several years, there is a possibility of expansion. To expand agricultural exports, several measures are needed. Size, and most importantly, quality standards must be developed for the needs of US consumers. Government programs have to be improved in the areas of exhibition activities, technology innovation, and advertising. In addition, new products and niche items are important for US consumers. Moving towards food exports from raw material exports is especially important for creating a long-term market. Adopting a new strategy, R&D for food industry, information exchange, and relaxing import-export regulation are also important. Special preparation also must be made for the bio terrorism measures in the US.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jordng:288199

DOI: 10.22004/ag.econ.288199

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