U.S. Cherries On Top In South Korean Market
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Shoppers at a South Korean discount chain store pick fresh U.S. cherries during a promotional event called “Cherry Day” on July 2. Since the U.S.-Korea free trade agreement (KORUS) went into effect in March, Korean retailers have seen sales of U.S. cherries rapidly increase, and in some cases, account for the top selling imported fruit. KORUS removed two thirds of the tariffs imposed on U.S. food and agricultural products exporting to South Korea.
It’s only been four months since the historic U.S.-Korea free trade agreement (KORUS) removed two thirds of the tariffs imposed on U.S. food and agricultural products exported to South Korea. But already, sales of U.S. fresh cherries are on the rise. The elimination of a 24-percent import duty on cherries – along with marketing support from the U.S. cherry industry and the Foreign Agricultural Service (FAS) in Seoul – is helping boost U.S. cherry sales in Korea to record levels. Read more »
