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S.Korean Retailers to Accept US Beef

26 November 2008

KOREA, SOUTH - Major South Korean retailers said on Tuesday that they would resume sales of U.S. beef which were suspended five years ago due to fears about mad cow disease.

South Korea's three major discount retailers announced in a joint press release that they will resume sales of U.S. beef beginning Thursday. E-Mart, Home Plus and Lotte Mart said the decision was based, in part, on the slowing Korean economy.

The U.S. Meat Export Federation (USMEF) is providing promotional support to all the chains and said initial sales at these three major retailers should prompt sales at other retail outlets. 

Once the third-largest market for U.S. beef, Korea imported about $816 million in beef and beef variety meats in 2003 – the last year the market was fully open, representing about 21 percent of the worldwide value of all U.S. beef exports.

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