Demand for cheaper imported meat is rising in South Korea as prices for domestic beef and pork climb sharply. Analysts attribute the shift to prolonged high inflation, high interest rates and elevated fuel costs, which have squeezed household budgets and spread value-for-money buying into the meat aisle.
Sales of imported pork at E-Mart and its Traders warehouse stores jumped 32.2% in the first eight months of this year from a year earlier, E-Mart said on the 16th. That marks a steep acceleration from growth rates of 18.8% in 2024 and 12.4% last year. Domestic pork sales, by contrast, rose 1.0% in 2024, 5.3% last year and 12.6% in the January-August period, well short of the pace for imports.
Imported beef sales also rose 12.0% over the same period, outpacing the 7.3% increase for domestic beef. As recently as 2024, domestic beef sales growth of 7.5% far exceeded the 1.0% gain for imports. Imports overtook domestic beef last year, and the gap widened further this year.
The shift follows higher prices for domestically produced meat. Retail prices for hanwoo, or Korean beef, averaged 24,245 won per 500 grams in July, up 14.7% from 21,130 won a year earlier, according to the Korea Meat Trade Association. Prices have surged 25.7% from two years ago. Retail pork prices also rose 5.9% to 14,375 won per 500 grams from 13,575 won in July last year.
Imports of relatively cheaper frozen meat are climbing quickly as a result. Pork imports reached 330,555 metric tons in the January-July period, up 14.3% from a year earlier. Frozen pork accounted for 305,388 tons, a 14.7% increase, while chilled pork rose 10.6% to 25,167 tons. Beef imports rose 7.7% to 304,690 tons from 282,782 tons a year earlier. Frozen beef again grew faster, climbing 10.2% to 248,234 tons. Frozen meat keeps longer and costs less.
"Pigs died in this summer's heat wave, tensions in the Middle East persisted and the won weakened, pushing up wholesale livestock prices, while prolonged inflation has increased the real purchasing burden on households," an industry official said. "More consumers are turning to imported meat, which is relatively cheap."
Imported pork is accordingly taking a larger share of sales at discount chains. At Lotte Mart, imported pork accounted for 29% of total pork sales in the January-July period this year, up from 17% last year and 13% in 2024. The 16 percentage point gain over two years more than doubled its share. The domestic share fell to 71% from 87% over the same period.
Improved supply conditions for imported meat also played a role. Under the South Korea-U.S. free trade agreement, tariffs on American beef were eliminated entirely as of Jan. 1 this year. The duty had been phased down since the agreement took effect, falling to zero this year from 2.6% last year. Imports from parts of Europe, including Denmark, Poland, Belgium and Hungary, also rose sharply as local pork prices there declined.
Industry officials expect demand for imported meat to hold up for some time as high inflation, high fuel costs and high interest rates persist, with restaurants and catering operators facing heavier input costs alongside households. "In the past, consumers saw a big quality difference between imported and domestic meat, but advances in freezing and packaging have narrowed that gap," an industry official said. "As price pressure has built, more shoppers are weighing both price and quality rather than country of origin."
