Seoul: South Korea's agro-livestock industry expressed relief Thursday after the government announced it has successfully safeguarded the country's rice and beef markets in a trade deal with the United States. This decision stands firm despite significant pressure to further open these markets.
According to Yonhap News Agency, Kim Yong-beom, the presidential chief of staff for policy, stated in a press briefing that there will be no further opening of Korea's rice and beef markets in the newly reached trade agreement between South Korea and the United States. The agreement includes a US$350 billion investment pledge from Seoul and a commitment to purchase $100 billion worth of U.S. liquefied natural gas or other energy products in exchange for certain tariff reductions, but it notably excludes increased access to Korea's rice and beef markets.
Under the terms of the deal, the United States has agreed to reduce its reciprocal tariffs on South Korean goods, initially set at 25 percent, to 15 percent, including the 25 percent duty on auto imports. Despite reported requests from the U.S. administration for Seoul to lift its import ban on American beef from cattle aged 30 months or older and to expand its rice imports, the agreement maintains existing restrictions.
The age restriction on U.S. beef imports was introduced following the Korea-U.S. free trade agreement signed in 2008, amid concerns over mad cow disease. Kim highlighted the strong pressure faced by South Korea to open its agricultural and livestock markets further but emphasized that the decision to maintain current market protections was based on considerations of food security and the sensitivity of these issues.
South Korean trade negotiators pointed out that the country is already the largest importer of American beef and has opened its market to 99.7 percent of U.S. agricultural products. This approach appears to have been effective in maintaining current market protections. Trade Minister Yeo Han-koo shared that negotiators even used aerial photos of protests against mad cow disease in 2008 to underscore the issue's sensitivity to U.S. counterparts.
Following the announcement, a local farmers' group expressed approval of the government's determination to protect the agricultural market, although they plan to scrutinize the details of the deal, which remain undisclosed. A civic activist group also voiced relief but urged the government to maintain its stance against further market opening in upcoming discussions with U.S. President Donald Trump.
In contrast to South Korea's announcement, President Trump claimed on Truth Social that South Korea will be "completely OPEN TO TRADE with the United States," accepting American products, including cars, trucks, and agriculture. Local farmers had previously threatened collective action if the government conceded further market openings as part of the trade negotiations.
South Korea reportedly considered but ultimately rejected concessions on beef and rice, defining them as a "red line." Instead, there was consideration of opening markets for fuel crops such as corn and bioethanol.
"This is definitely an achievement for South Korea, given the political sensitivity surrounding its agricultural and livestock markets," commented Suh Jin-kyo, president of GS and J Institute, a research body focused on the farming industry.