Philippines gives green light to South Korean processed meat imports

24-Jan-2018 - Last updated on 24-Jan-2018 at 02:30 GMT

Officials from the two countries have agreed import protocols. ©iStock

Related tags International trade South korea

South Korean processed meat firms will soon be able to export products to the Philippines after the two nations agreed standards protocols.

South Korea’s Ministry of Agriculture, Food and Rural Affairs stated this week it had secured a deal with the Food and Drug Administration of the Philippines on quarantine protocols.

Food manufacturers in Korea are hoping to cash in on the popularity of Korean dramas and pop music in the Philippines to boost exports to the nation.

Ministry officials have especially high hope for increased sales of Korean ginseng chicken soup "samgyetang" and other packaged foods.

Beef imports

While Korean food firms are now exploring the meat export possibilities to the Phillipiines, the country has been importing record amounts of US refrigerated beef.

According to data from the Korea Customs Service, imports of US beef topped US$1bn for the first time since 2000 in 2017.

South Korea’s meat exports total around US$500m while they import around $4bn. For packaged foods, the balance of trade is far smaller, with $1.1bn exported and around $1.5bn imported.