(image: TMON Inc.)
SEOUL, Nov. 23 (Korea Bizwire) — A recent study has revealed that South Korean consumers are increasingly turning to imported beef over domestic varieties.
In certain distribution channels, imported meat sales are even surpassing sales of Korean beef.
TMON Inc., a popular e-commerce company, said on Thursday that imported beef sales comprised as much as 61.8 percent of all beef sales.
The presence of imported beef in the market has grown exponentially since last year, when imported beef comprised only 36.8 percent of total beef sales.
The Ministry of Food and Drug Safety showed that the amount of imported beef brought in from January to September this year reached 306,000 tons, which was a 19.7 percent increase compared to the same period last year.
There has also been a paradigm shift within the imported beef market.
(image: Yonhap)
Australian beef, which accounted for almost 60 percent of all imported beef sales last year, gave way to American beef this year. U.S. beef comprised 48 percent of all imported beef sales, while Australian beef reached 47 percent.
“There is a perception that U.S. beef is better suited for Korean beef culture,” said a source from TMON. “Most Australian beef is used for steaks, while U.S. beef comes in a variety of cuts suitable for grilling, steamed dishes, and braised ribs.”
Imported beef was 50 percent cheaper than Korean beef on average. The price of Korean beef, in contrast, has been on a steady but constant climb. It is now 16 percent more expensive than last year.
“While an increasing number of consumers are looking for Korean beef for its quality and great taste, many still buy imported beef for its affordable price and satisfactory quality.”
Lina Jang (linajang@koreabizwire.com)
