US Beef Claims Over 50% Of Korea's Imported Beef Market

US beef has gained a bigger presence in South Korea's imported beef market this year helped by a bilateral free trade pact, achieving a share of over 50 percent, a trade agency said Monday.

In the January-October period, US beef imports reached $989 million, accounting for 50.7 percent of the local imported beef market. It regained a share exceeding 50 percent 14 years after the ratio hit a record 75.9 percent, according to data from the Korea International Trade Association. 

In 2003, the country banned the imports of US beef due to the then spreading bovine spongiform encephalopathy, commonly known as mad cow disease, in the United States. 

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