Required Report - public distribution

**Date:** 3/6/2006

**GAIN Report Number:** KS6020

KS6020

**Korea, Republic of**

**Oilseeds and Products**

**Annual**

**2006**

**Approved by:**

![](media/image1.wmf)Larry Senger

U.S. Embassy

**Prepared by:**

Stan Phillips//Sunchul Choi

**Report Highlights: Korea is expected to import 1.3 MMT of soybeans in
MY 2006/7 and MY 2005/06. A comparison of Korean soybean imports during
the first three months of MY 2005/06 (Oct.-Dec., 2005) indicates a sharp
decrease in U.S. soybean exports to Korea from the previous year. In
contrast, Brazilian exports have more than doubled compared to the same
period during the previous year.**

Includes PSD Changes: Yes

Includes Trade Matrix: Yes

Annual Report

Seoul \[KS1\]

\[KS\]

Table of Contents

[**SECTION I. SITUATION AND OUTLOOK
3**](#section-i.-situation-and-outlook)

[SECTION II. STATISTICAL TABLES OF OILSEED
7](#section-ii.-statistical-tables-of-oilseed)

[Soybean, Oilseed PS&D 7](#soybean-oilseed-psd)

[Soybean Import Trade Matrix 8](#soybean-import-trade-matrix)

[KOREA: Korean Economic Forecast for 2006
9](#korea-korean-economic-forecast-for-2006)

[KOREA: Oilseed Area and Production
9](#korea-oilseed-area-and-production)

[KOREA: Soybean Production 9](#korea-soybean-production)

[KOREA: Government Purchases of Soybeans
10](#korea-government-purchases-of-soybeans)

[KOREA: Soybean Farm Gate Price Index
10](#korea-soybean-farm-gate-price-index)

[KOREA: Soybean Imports for Oct.-Dec. by Origin
11](#korea-soybean-imports-for-oct.-dec.-by-origin)

[Subtotal 11](#subtotal)

[KOREA: Distribution, by State Trading Entities, of Soybeans for Food
Manufacturing
12](#korea-distribution-by-state-trading-entities-of-soybeans-for-food-manufacturing)

[KOREA: Soybean Consumption for Crushing
12](#korea-soybean-consumption-for-crushing)

[KOREA: Soybean Crushing Capacity 12](#korea-soybean-crushing-capacity)

[KOREA: Oilseed Imports 13](#korea-oilseed-imports)

[KOREA: Soybean Powder Imports 13](#korea-soybean-powder-imports)

[KOREA: Tariff Schedule For Oilseeds
14](#korea-tariff-schedule-for-oilseeds)

[SECTION II. STATISTICAL TABLES OF MEALS
15](#section-ii.-statistical-tables-of-meals)

[Soybean Meal PS&D 15](#soybean-meal-psd)

[Soybean Meal Import Trade Matrix 16](#soybean-meal-import-trade-matrix)

[Rapeseed Meal Import Trade Matrix
18](#rapeseed-meal-import-trade-matrix)

[KOREA: Soybean Meal Production 19](#korea-soybean-meal-production)

[KOREA: Feed Ingredients use 19](#korea-feed-ingredients-use)

[KOREA: Soybean Meal Inclusion Rate for Compound Feed
20](#korea-soybean-meal-inclusion-rate-for-compound-feed)

[KOREA: Imports of Major Protein Meals
20](#korea-imports-of-major-protein-meals)

[KOREA: Soybean Meal Imports for Oct.-Dec. by Origin
20](#korea-soybean-meal-imports-for-oct.-dec.-by-origin)

[KOREA: Feed Production by Animal-type
21](#korea-feed-production-by-animal-type)

[KOREA: Animal Inventory 21](#korea-animal-inventory)

[KOREA: Applied Tariff Schedule for Oil Cake and Meals
22](#korea-applied-tariff-schedule-for-oil-cake-and-meals)

[SECTION II. STATISTICAL TABLES OF OILS
23](#section-ii.-statistical-tables-of-oils)

[Soybean Oil PS&D 23](#soybean-oil-psd)

[Soybean Oil Import Trade Matrix 24](#soybean-oil-import-trade-matrix)

[Palm Oil PS&D 25](#palm-oil-psd)

[Palm Oil Import Trade Matrix 26](#palm-oil-import-trade-matrix)

[KOREA: Vegetable Oil Production 1/
27](#korea-vegetable-oil-production-1)

[KOREA: Soybean Oil Production 27](#korea-soybean-oil-production)

[KOREA: The Supply of Edible Oils 28](#korea-the-supply-of-edible-oils)

[KOREA: Fats And Oils Imports 28](#korea-fats-and-oils-imports)

[KOREA: Soybean Oil Imports for Oct.-Dec. by Origin
29](#korea-soybean-oil-imports-for-oct.-dec.-by-origin)

[KOREA: Applied Tariff Schedule For Fats And Oils
29](#korea-applied-tariff-schedule-for-fats-and-oils)

# SECTION I. SITUATION AND OUTLOOK

The Bank of Korea forecasts that the potential GDP growth rate for 2006
is 5 percent compared to 4 percent in 2005 as a result of additional
consumer spending. Consumer price increases are expected to remain in
the three percent range. The unemployment rate is likely to hover in the
mid-three percent range. The current account surplus is expected to
reach approximately \$16 billion in 2006 because the goods account
surplus will shrink somewhat while the service account deficit will grow
in comparison to last year. Korean economists and market analysts expect
that Korea's potential growth rate stands at 4.2 -- 4.3 percent. The
Korean won (KRW) strengthened to KRW 1,024.24 per U.S. dollar in CY 2005
from KRW 1,146.19 per U.S. dollar in CY 2004.

**OILSEEDS**

Production: In MY 2006/07, Korea\'s soybean area is expected to decrease
slightly to a level of 100,000 HA. Area is expected to decrease slightly
in response to less attractive farm gate prices for soybeans. Soybean
production is forecast at 150,000 metric tons (MT) in MY 2006/07
assuming average yields. In MY 2005/06, increased soybean area and
record yields resulted in increased soybean production to 183,000 MT
(from 139,000 MT in MY 2004/05).

Since 2002, the Ministry of Agriculture and Forestry (MAF) has
maintained a rice area reduction program with favorable government
purchase prices for soybeans grown on former rice paddies. During MY
2005/06, MAF purchased 9,200 MT of soybean cultivated in converted rice
paddies at KRW 4,204/kg (equivalent to US\$4.20/kg). MAF also purchased
3,000 MT of soybeans grown in upland production areas at KRW 3,017/kg
(equivalent to US\$3.00/kg). Purchase prices under the rice area
reduction program are expected to remain at the same levels in MY
2006/07. Purchasing prices for soybeans grown on former rice area and
upland area are expected to be equalized in MY 2007/08.

Consumption: Total soybean consumption is forecast to increase slightly
in MY 2006/07 to a level of 1.46 MMT comprised primarily of 1 MMT for
crushing and .42 MMT for food use. Crushing use is expected to remain
unchanged in MY 2006/07 from previous year levels while food use is
expected to increase 20,000 MT. Lack of growth in crushing demand
reflects the growing competition Korean crushers face from imported
South American oil and meal from Brazil and India.

Stocks: Ending stocks of soybeans are expected to contract slightly from
.16 MMT in MY 2005/06 to .15 MMT in MY 2006/07.

Trade: Soybean imports are expected to remain at 1.3 MMT in MY 2006/07
reflecting stable demand from the crushing sector. The United States is
projected to export .8 MMT of soybeans to Korea in both MY 2005/06 and
MY 2006/07. U.S. soybean exports to Korea are dependent on the level of
competition from Brazil. Brazil\'s share of the Korean soybean market
increased from 15 percent in MY 2003/04 to 28 percent in MY 2004/05.
Korean crushers perceive Brazilian soybeans to be competitive with U.S.
soybeans for at least six months after the Brazilian harvest. Korean
crushers claim that Brazilian soybeans purchased during the six month
period following harvest have higher oil and protein content than U.S.
soybeans available during the same period.

In the first three months of MY 2005/06 (Oct.-Dec. 2005), soybean
imports were 29 percent higher than the same period of the previous
year. The increased pace of imports during the first three months of MY
2005/06 reflects traders\' correct assessment that the import tariff for
soybeans would increase in CY 2006. Consequently, the initial pace of
imports in MY 2005/06 is not expected to be maintained throughout the
entire marketing year. The in-quota tariff for soybeans for crushing
increased from zero in 2005 to 1 percent in 2006.

NON-GMO SOYBEANS

The Korea Agro-Fishery Trade Corporation (abbreviated \"aT\"), a state
trading company, is expected to continue to buy U.S. No. 1
non-biotech-enhanced soybeans for food processing through an identity
preserved (IP) certification system under a tariff rate quota (TRQ).
\"aT\" plans to import non-GMO soybean to meet steady demand from
manufacturers of soybean curd, soy sauce, soy paste, and soy-based
seasonings under the 2006 soybean TRQ of 270,000 MT. About 10,000 MT of
soybeans for sprouting purpose are also included in the TRQ. China has
been the major supplier of soybeans for sprouting.

Private importers are expected to continue importing approximately
60,000 MT of soybeans for food purposes mainly from China. Chinese
soybeans imported by private sector buyers are subject to the
out-of-quota import tariff of 487 percent or Korean Won 956/kg,
whichever is greater. Seventy percent of the soybeans imported from
China are used for sprouting, 20 percent are used to make soybean curd,
and the remaining ten percent are used to make soybean-based seasonings.

Poolmoowon, a leading organic food processor in Korea, has produced
soybean-curd products using local soybeans and Chinese organic soybeans.
The company imported 3,000 MT of organic soybeans from China produced
under contract.

**MEAL**

Production: The production of soybean meal in MY 2006/07 is expected to
remain at .8 MMT as in MY 2005/06 reflecting the stable level of
crushing. The domestic crushing industry has shifted to production of
dehulled soybean meal to meet demand from feed millers. Crushers report
that dehulled soybean meal containing 47.5 percent of crude protein
(minimum) accounted for 25 percent of locally crushed soybean meal
production in 2005. The largest domestic crushing company, which
produces 45 percent of all domestically produced soybean meal, has been
producing only dehulled meal since August 2005.

Consumption: Feed demand for soybean meal has room for growth given the
low soybean meal-inclusion rate in animal rations relative to levels
animal nutritionists generally recommend.

Compound feed production in MY 2006/07 is projected to decrease slightly
in response to slight reductions in cattle and swine inventories.
Poultry numbers are expected to remain stable. The projected decrease in
compound feed production is expected to be offset by improvement in the
soybean meal inclusion rate in compound feed. As a result, soybean meal
consumption is expected to increase marginally to 2.3 MMT in MY 2006/07.
Korean feed millers claim to prefer soybean meal to other oil meals
because the supply of soybean meal has been more reliable. The rapeseed
meal inclusion rate will remain at around 2 percent of total compound
feed production due to a limited supply and demand.

Trade: In MY 2006/07, Korea is forecast to import 1.5 MMT of soybean
meal for feed purposes; a 50,000 MT increase from the previous year.
Increased imports reflect an increase in the soybean inclusion rate in
compound feed. Brazil has dominated the Korean soybean meal market
during MY 2005/06. U.S. soybean meal exports are expected to amount to
only 5,000 MT in MY 2005/06 and MY 2006/07. Imports of U.S. soybean meal
are expected to occur via containerized shipment. Feed millers recognize
the value of U.S. dehulled soybean meal in rations for swine, poultry
and aquaculture. Continued market development will encourage feed
millers to opt for U.S. soybean meal when U.S. prices are attractive
vis-à-vis South American meals.

###### OIL

Production: In MY 2006/07, oil production is forecast to remain
unchanged from MY 2005/06 at 180,000 MT. Narrow crushing margins are
expected to continue through MY 2006/07 and limit crusher interest in
expanding oil production.

Consumption: Total soybean oil consumption in MY 2006/07 is expected to
increase to 428,000 MT from 418,000 MT in MY 2005/06. MY 2006/07
consumption is expected to be comprised of 410,000 MT of food use and
18,000 MT of industrial use. Although domestically crushed oil has
dominated the Korean market for vegetable oil, it is not competitive for
use in restaurants and processing of oil-based foods. Utilization of
soybean oil has been very limited in processing of oil-based foods
because of technical difficulties in further processing RBD soybean oil
into the oil suitable for oil-based food processing. The functionality
and price of palm oil has met demand in this area better than soybean
oil.

Growing concerns among the Korean public about trans-fat from
hydrogenated soybean oil have dampened demand for soybean oil for food
processing relative to substitutes. Implementation of mandatory labeling
of for trans-fat content in the United States focused attention on the
issue in Korea. Increasing concerns about trans-fat are expected to
eventually result in similar trans-fat labeling regulations in Korea
and, in turn, a further reduction in consumption of products containing
hydrogenated soybean oil.

U.S. Soybean Export Council (USSEC) market development efforts can
assist the Korean food industry and crushers in adapting their
production to the new environment resulting from increased consumer
awareness of trans-fat. Among other activities, USSEC provision of
technical and marketing assistance can help the Korean industry develop
trans-fat free soybean oil for oil-based food processing and expand the
market for their domestically crushed soybean oil derived from imported
U.S. soybeans.

Trade: MY 2006/07 soybean oil imports are projected at 250,000 MT as are
MY 2005/06 imports. Imports of soybean oil have increased to more than
half of total oil demand in recent years. Soybean oil imported from
South America has been competitive with domestically produced soybean
oil derived from imported soybeans. Food processors that use soybean oil
as an input and restaurants have come to rely heavily on imported
soybean oil.

In MY 2004/05, exports of U.S. soybean oil to Korea increased to 14,340
MT; a 33 percent increase from the previous marketing year. Although
importers are reportedly willing to pay a premium of nearly \$10/MT for
U.S. soybean vis-à-vis Argentine soybean oil, the current price spread
between U.S. and South American soybean oil has prompted Korean
refineries to purchase South American soybean oil in MY 2005/06.

In MY 2004/05, palm oil imports increased to 227,435 MT, up 7 percent
from a year earlier. The functionality and price of palm oil meets
demand for processing of foods within the instant noodle and
confectionary sectors. Consequently, imports of palm oil have been
increasing along with growth in the Korean food industry. Palm oil
imports are expected to continue to grow moderately. Palm stearin has a
steady demand from the feed and soap industries.

###### TARIFFS

A 1.4 MMT tariff rate quota (TRQ) was established for imports of
soybeans for crushing in 2006. In contrast to the 2005 TRQ, the in-quota
rate was increase from zero to one percent. The in-quota tariff for the
2006 TRQ for soybeans for food processing remains unchanged at five
percent for 185,787 MT. Out-of-quota soybeans will be assessed a tariff
of 487 percent or Korean won 956/kg, whichever is greater. Soybean meal,
soybean oil, and cottonseed oil tariff rates in 2006 remain in line with
the terms of a 1993 U.S./Korean bilateral agreement.

TRQ\'s for rapeseed oil imports do not have a quantitative limitation.
The in-quota tariff rate for crude rapeseed oil has been reduced 2
percent to 8 percent in 2006. The in-quota tariff rate for refined
rapeseed oil has been reduced from 30 percent in 2005 to 10 percent in
2006. (See the tables below for details.)

###### MARKET OPPORTUNITIES

Over the next three to five years, the oilseed market is expected to be
stagnant due to narrow crushing margins to local crushers who has
suffered from less competitive price of locally processed soybean
products than imported soybean products. The economic recovery currently
underway is expected to support strengthening demand for food and feed
grade oilseeds as consumer preference for, and consumption of,
oilseed-based products and animal protein grow. Despite the increased
domestic production of soybeans in the course of rice area reduction
programs, oilseed imports will remain necessary because domestic
production will always be insufficient to meet market requirements for
both feed and food quality beans. Important trends that could affect
U.S. exports include changing consumer perceptions of biotechnology and
products derived from genetically enhanced ingredients; changes to
oilseed, meal and vegetable oil tariffs; the availability of affordable
commercial credit; and market development efforts.

# SECTION II. STATISTICAL TABLES OF OILSEED

## Soybean, Oilseed PS&D

## 

## ![](media/image2.wmf)

## Soybean Import Trade Matrix

![](media/image3.wmf)

Source: Korea Customs Service (KCS)

+------------------------------+-------------------+------------------+
| ## KOREA: Korea              |                   |                  |
| n Economic Forecast for 2006 |                   |                  |
+------------------------------+-------------------+------------------+
| Item                         | 2005a/            | 2006b/           |
+------------------------------+-------------------+------------------+
| GDP (%)                      | 4                 | 5                |
+------------------------------+-------------------+------------------+
| Current Account (billion     | 16.6              | 16               |
| U.S.\$)                      |                   |                  |
+------------------------------+-------------------+------------------+
| Consumer Prices (%)          | 2.8               | 3.0              |
+------------------------------+-------------------+------------------+
| Unemployment (%)             | 3.7               | 3.6              |
+------------------------------+-------------------+------------------+

A/ Estimate

B/ Forecast

Source: Bank of Korea

## 

+-------------+-------------+-------------+-------------+-------------+
| ## KO       |             |             |             |             |
| REA: Oilsee |             |             |             |             |
| d Area and  |             |             |             |             |
| Production  |             |             |             |             |
|             |             |             |             |             |
| (Hectares   |             |             |             |             |
| and Metric  |             |             |             |             |
| tons)       |             |             |             |             |
+-------------+-------------+-------------+-------------+-------------+
| Crops       | 2004        |             | 2005        |             |
+-------------+-------------+-------------+-------------+-------------+
|             | Area        | Production  | Area        | Production  |
+-------------+-------------+-------------+-------------+-------------+
| Soybean     | 85,270      | 135,570     | 105,421     | 183,338     |
+-------------+-------------+-------------+-------------+-------------+
| Rapeseed    | 1,148       | 1,392       | 1,100a/     | 1400a/      |
+-------------+-------------+-------------+-------------+-------------+
| Peanuts b/  | 3,454       | 8,257       | 3,352       | 8000        |
+-------------+-------------+-------------+-------------+-------------+
| Sesame      | 31,843      | 20,863      | 33,971      | 23,461      |
+-------------+-------------+-------------+-------------+-------------+
| Perilla     | 24,368      | 18,346      | 24,000a/    | 18,300a/    |
+-------------+-------------+-------------+-------------+-------------+
| Total       | 146,083     | 184,428     | 167,844a/   | 234,499a/   |
+-------------+-------------+-------------+-------------+-------------+

a/ FAS/Seoul estimates.

b/ In-shell

Source: Ministry of Agriculture and Forestry

## 

+-----------------+-----------------+-----------------+-----------------+
| ## KOREA: Soy   |                 |                 |                 |
| bean Production |                 |                 |                 |
+-----------------+-----------------+-----------------+-----------------+
| Crop Year       | Area (HA)       | Yield (KG/HA)   | Production (MT) |
+-----------------+-----------------+-----------------+-----------------+
| 1985            | 155,964         | 1,500           | 233,863         |
+-----------------+-----------------+-----------------+-----------------+
| 1990            | 152,265         | 1,529           | 232,786         |
+-----------------+-----------------+-----------------+-----------------+
| 1995            | 105,035         | 1,520           | 159,640         |
+-----------------+-----------------+-----------------+-----------------+
| 1999            | 87,026          | 1,334           | 116,120         |
+-----------------+-----------------+-----------------+-----------------+
| 2000            | 86,176          | 1,314           | 113,196         |
+-----------------+-----------------+-----------------+-----------------+
| 2001            | 78,415          | 1,501           | 117,723         |
+-----------------+-----------------+-----------------+-----------------+
| 2002            | 80,804          | 1,423           | 115,024         |
+-----------------+-----------------+-----------------+-----------------+
| 2003            | 80,447          | 1,306           | 105,089         |
+-----------------+-----------------+-----------------+-----------------+
| 2004            | 85,270          | 1,625           | 138,570         |
+-----------------+-----------------+-----------------+-----------------+
| 2005            | 105,421         | 1,739           | 183,338         |
+-----------------+-----------------+-----------------+-----------------+

Source: Ministry of Agriculture and Forestry

+-------+------+-------+------+-------+------+-------+------+-------+
| ##    |      |       |      |       |      |       |      |       |
|  KORE |      |       |      |       |      |       |      |       |
| A: Go |      |       |      |       |      |       |      |       |
| vernm |      |       |      |       |      |       |      |       |
| ent P |      |       |      |       |      |       |      |       |
| urcha |      |       |      |       |      |       |      |       |
| ses o |      |       |      |       |      |       |      |       |
| f Soy |      |       |      |       |      |       |      |       |
| beans |      |       |      |       |      |       |      |       |
|       |      |       |      |       |      |       |      |       |
| (MT,  |      |       |      |       |      |       |      |       |
| KR    |      |       |      |       |      |       |      |       |
| W/Kg) |      |       |      |       |      |       |      |       |
+-------+------+-------+------+-------+------+-------+------+-------+
| Soy   | 2002 |       | 2003 |       | 2004 |       | 2005 |       |
| beans |      |       |      |       |      |       |      |       |
+-------+------+-------+------+-------+------+-------+------+-------+
|       | P    | Qua   | P    | Qua   | P    | Qua   | P    | Qua   |
|       | rice | ntity | rice | ntity | rice | ntity | rice | ntity |
+-------+------+-------+------+-------+------+-------+------+-------+
| Grown | 4    | 2,526 | 4    | 5,438 | 4    | 1     | 4    | 9200  |
| in    | ,770 |       | ,770 |       | ,770 | 0,462 | ,204 |       |
| rice  |      |       |      |       |      |       |      |       |
| paddy |      |       |      |       |      |       |      |       |
| area  |      |       |      |       |      |       |      |       |
+-------+------+-------+------+-------+------+-------+------+-------+
| Grown | 2    | 2,500 | 2    | none  | 2    | none  | 3    | 3,000 |
| in    | ,407 |       | ,407 |       | ,407 |       | ,017 |       |
| u     |      |       |      |       |      |       |      |       |
| pland |      |       |      |       |      |       |      |       |
| area  |      |       |      |       |      |       |      |       |
+-------+------+-------+------+-------+------+-------+------+-------+

Source: Ministry of Agriculture and Forestry

+-----------------------+-----------------------+-----------------------+
| ## KOREA: Soybean     |                       |                       |
| Farm Gate Price Index |                       |                       |
+-----------------------+-----------------------+-----------------------+
| Year and Months       | Price Index           |                       |
+-----------------------+-----------------------+-----------------------+
| 2000                  | 100                   |                       |
+-----------------------+-----------------------+-----------------------+
| 2001                  | 91.9                  |                       |
+-----------------------+-----------------------+-----------------------+
| 2002                  | 94.8                  |                       |
+-----------------------+-----------------------+-----------------------+
| 2003                  | 109.7                 |                       |
+-----------------------+-----------------------+-----------------------+
| 2004                  | 125                   |                       |
+-----------------------+-----------------------+-----------------------+
|                       |                       |                       |
+-----------------------+-----------------------+-----------------------+
| **Month**             | **2004**              | **2005**              |
+-----------------------+-----------------------+-----------------------+
| January               | 123                   | 123.2                 |
+-----------------------+-----------------------+-----------------------+
| February              | 127.5                 | 124.0                 |
+-----------------------+-----------------------+-----------------------+
| March                 | 131.9                 | 172.2                 |
+-----------------------+-----------------------+-----------------------+
| April                 | 144.9                 | 128.3                 |
+-----------------------+-----------------------+-----------------------+
| May                   | 150.2                 | 126.7                 |
+-----------------------+-----------------------+-----------------------+
| June                  | 162.1                 | 123.5                 |
+-----------------------+-----------------------+-----------------------+
| July                  | 156.2                 | 121.5                 |
+-----------------------+-----------------------+-----------------------+
| August                | 143.9                 | 120.8                 |
+-----------------------+-----------------------+-----------------------+
| September             | 135.6                 | 119.0                 |
+-----------------------+-----------------------+-----------------------+
| October               | 123.6                 | 108.2                 |
+-----------------------+-----------------------+-----------------------+
| November              | 122.5                 | 99.4                  |
+-----------------------+-----------------------+-----------------------+
| December              | 121.7                 | na                    |
+-----------------------+-----------------------+-----------------------+

Source: National Livestock Cooperative Federation (NACF)

+-------------+-----------+---------+---------+-----------+-----------+
| ## KO       |           |         |         |           |           |
| REA: Soybea |           |         |         |           |           |
| n Imports f |           |         |         |           |           |
| or Oct.-Dec |           |         |         |           |           |
| . by Origin |           |         |         |           |           |
|             |           |         |         |           |           |
| (Unit: MT)  |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+
| Soybean for |           |         |         |           |           |
| Crushing    |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+
| MY2005/06   | USA       | Brazil  | China   | Others    | Total     |
+-------------+-----------+---------+---------+-----------+-----------+
| Oct. 2005   | 0         | 79,573  | 0       | 0         | 79,573    |
+-------------+-----------+---------+---------+-----------+-----------+
| Nov         | 1,500     | 57,090  | 0       | 0         | 58,650    |
+-------------+-----------+---------+---------+-----------+-----------+
| Dec         | 87,813    | 56,313  | 0       | 0         | 144,126   |
+-------------+-----------+---------+---------+-----------+-----------+
| *           | *         | **19    | **0**   | **60**    | **        |
| *Subtotal** | *89,313** | 2,976** |         |           | 282,349** |
+-------------+-----------+---------+---------+-----------+-----------+
| MY2004/05   | 111,450   | 87,800  | 0       | 0         | 199,250   |
| a/          |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+
| Soybean for |           |         |         |           |           |
| Food        |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+
| MY2005/06   | USA       | Brazil  | China   | Others    | Total     |
+-------------+-----------+---------+---------+-----------+-----------+
| Oct. 2005   | 24,321    | 4,300   | 8,488   | 18        | 37,127    |
+-------------+-----------+---------+---------+-----------+-----------+
| Nov         | 0         | 3,386   | 10,749  | 18        | 14,153    |
+-------------+-----------+---------+---------+-----------+-----------+
| Dec         | 51,726    | 3,260   | 12,015  | 9         | 67,047    |
+-------------+-----------+---------+---------+-----------+-----------+
| *           | *         | **1     | **3     | **45**    | **        |
| *Subtotal** | *76,084** | 0,946** | 1,252** |           | 118,327** |
+-------------+-----------+---------+---------+-----------+-----------+
| MY2004/05   | 88,853    | 0       | 20,945  | 1,500     | 111,298   |
| a/          |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+
| Total       |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+
| MY2005/06   | USA       | Brazil  | China   | Others    | Total     |
+-------------+-----------+---------+---------+-----------+-----------+
| Oct. 2005   | 24,321    | 83,873  | 8,488   | 18        | 116,700   |
+-------------+-----------+---------+---------+-----------+-----------+
| Nov         | 1,500     | 60,476  | 10,749  | 78        | 72,803    |
+-------------+-----------+---------+---------+-----------+-----------+
| Dec         | 139,576   | 59,573  | 12,015  | 9         | 211,173   |
+-------------+-----------+---------+---------+-----------+-----------+
| # Subtotal  | **        | **20    | **3     | **105**   | **        |
|             | 165,397** | 3,922** | 1,252** |           | 400,676** |
+-------------+-----------+---------+---------+-----------+-----------+
| MY2004/05   | 200,303   | 87,800  | 20,945  | 1,500     | 310,548   |
| a/          |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+

a/ October -- December 2004

Source: Korea Customs Service (KCS)

+-----------------+-----------------+-----------------+-----------------+
| ## KOREA:       |                 |                 |                 |
| Distribution, b |                 |                 |                 |
| y State Trading |                 |                 |                 |
|  Entities, of S |                 |                 |                 |
| oybeans for Foo |                 |                 |                 |
| d Manufacturing |                 |                 |                 |
|                 |                 |                 |                 |
| (Calendar Year, |                 |                 |                 |
| Metric Ton)     |                 |                 |                 |
+-----------------+-----------------+-----------------+-----------------+
| Item\\Year      | 2003            | 2004            | 2005            |
+-----------------+-----------------+-----------------+-----------------+
| Soybean Curd    | 107,665         | 131,435         | 125,274         |
+-----------------+-----------------+-----------------+-----------------+
| Soy Sauce       | 40,995          | 45,005          | 44,500          |
+-----------------+-----------------+-----------------+-----------------+
| Soy Paste       | 4,287           | 4,700           | 3,824           |
+-----------------+-----------------+-----------------+-----------------+
| Soy Milk        | 30,461          | 28,000          | 26,478          |
+-----------------+-----------------+-----------------+-----------------+
| Others 1/       | 472             | 420             | 1,360           |
+-----------------+-----------------+-----------------+-----------------+
| Sub. Total      | 183,880         | 209,555         | 201,436         |
+-----------------+-----------------+-----------------+-----------------+
| By product 2/   | 30,158          | 31,000          | 30,930          |
+-----------------+-----------------+-----------------+-----------------+
| Grand Total     | 214,038         | 240,555         | 232,366         |
+-----------------+-----------------+-----------------+-----------------+

Note: Quantity is on the basis of cleaned soybeans.

1/ Government, military employees and others

2/ Feed

Source: Korea Agro-Fishery Trade Corporation (aT)

+-----------------+------------+-------------+------------+-----------+
| ## KOREA: So    |            |             |            |           |
| ybean Consumpti |            |             |            |           |
| on for Crushing |            |             |            |           |
|                 |            |             |            |           |
| (Metric Ton)    |            |             |            |           |
+-----------------+------------+-------------+------------+-----------+
| Month           | MY 02/03   | MY 03/04    | MY 04/05   | MY 05/06  |
+-----------------+------------+-------------+------------+-----------+
| October         | 110,113    | 97,863      | 69,135     | 66,300    |
+-----------------+------------+-------------+------------+-----------+
| November        | 108,508    | 115,975     | 87,037     | 73,100    |
+-----------------+------------+-------------+------------+-----------+
| December        | 111,707    | 117,442     | 75,014     | 65,700    |
+-----------------+------------+-------------+------------+-----------+
| January         | 108,673    | 84,334      | 76,609     | na        |
+-----------------+------------+-------------+------------+-----------+
| February        | 102,386    | 98,243      | 83,257     | na        |
+-----------------+------------+-------------+------------+-----------+
| March           | 110,162    | 100,503     | 83,880     | na        |
+-----------------+------------+-------------+------------+-----------+
| April           | 106,423    | 93,969      | 82,606     | na        |
+-----------------+------------+-------------+------------+-----------+
| May             | 95,080     | 75,925      | 89,274     | na        |
+-----------------+------------+-------------+------------+-----------+
| June            | 73,613     | 78,691      | 79,455     | na        |
+-----------------+------------+-------------+------------+-----------+
| July            | 99,905     | 84,006      | 83,000     | na        |
+-----------------+------------+-------------+------------+-----------+
| August          | 100,687    | 75,157      | 89,400     | na        |
+-----------------+------------+-------------+------------+-----------+
| September       | 83,880     | 66,811      | 76,700     | na        |
+-----------------+------------+-------------+------------+-----------+
| Total           | 1,211,137  | 1,088,919   | 975,367    | 205,100   |
+-----------------+------------+-------------+------------+-----------+

Source: Korea Soybean Processing Association

+-----------------------+-----------------------+-----------------------+
| ## KOREA: Soyb        |                       |                       |
| ean Crushing Capacity |                       |                       |
|                       |                       |                       |
| (As of January 2005)  |                       |                       |
+-----------------------+-----------------------+-----------------------+
| Soybean Crusher       | Capacity (MT/day)     | Location              |
+-----------------------+-----------------------+-----------------------+
| Shin Dong Bang Corp   | 1,150                 | Inchon                |
+-----------------------+-----------------------+-----------------------+
| CJ Corp               | 1,850                 | Inchon                |
+-----------------------+-----------------------+-----------------------+
| Samyang Fat and Oil   | 700                   | Inchon                |
| Co.                   |                       |                       |
+-----------------------+-----------------------+-----------------------+
| Total                 | 3,700                 |                       |
+-----------------------+-----------------------+-----------------------+

Note: Day=24 hours processing basis for 330 days

Source: Soybean Crushing Industry

+--------------+------------+-------------+-------------+-------------+
| #            |            |             |             |             |
| # KOREA: Oil |            |             |             |             |
| seed Imports |            |             |             |             |
|              |            |             |             |             |
| (Metric      |            |             |             |             |
| Tons,        |            |             |             |             |
| \$1,000)     |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
|              | MY 2003/04 |             | MY 2004/05  |             |
+--------------+------------+-------------+-------------+-------------+
|              | Volume     | Value       | Volume      | Value       |
+--------------+------------+-------------+-------------+-------------+
| Soybean      | 1,368,032  | 480,522     | 1,240,095   | 380,363     |
+--------------+------------+-------------+-------------+-------------+
| Peanuts, in  | 612        | 148         | 637         | 184         |
| shell        |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Peanut,      | 2,841      | 929         | 3,151       | 1,248       |
| shelled      |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Linseed      | 75         | 37          | 134         | 128         |
+--------------+------------+-------------+-------------+-------------+
| Rapeseed     | 6          | 14          | 742         | 254         |
+--------------+------------+-------------+-------------+-------------+
| Sunflower    | 1,233      | 1,296       | 1,087       | 1,392       |
| Seed         |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Cottonseed   | 106,250    | 21,855      | 127,183     | 24,047      |
+--------------+------------+-------------+-------------+-------------+
| Castor Bean  | 610        | 88          | 107         | 50          |
+--------------+------------+-------------+-------------+-------------+
| Sesame Seed  | 75,119     | 77,510      | 68,757      | 64,951      |
+--------------+------------+-------------+-------------+-------------+
| Mustard Seed | 1,857      | 1,039       | 2,516       | 1,390       |
+--------------+------------+-------------+-------------+-------------+
| Safflower    | 572        | 205         | 381         | 152         |
| Seed         |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Perilla Seed | 22,969     | 11,494      | 25,891      | 12,305      |
+--------------+------------+-------------+-------------+-------------+
| Total        | 1,580,176  | 595,137     | 1,470,681   | 486,464     |
+--------------+------------+-------------+-------------+-------------+

Source: Korea Customs Service

## 

+-------------+-------------+-------------+-------------+-------------+
| ## KOREA:   |             |             |             |             |
| Soybean Pow |             |             |             |             |
| der Imports |             |             |             |             |
|             |             |             |             |             |
| (MT,        |             |             |             |             |
| \$1,000)    |             |             |             |             |
+-------------+-------------+-------------+-------------+-------------+
| Country     | 2004        |             | 2005        |             |
+-------------+-------------+-------------+-------------+-------------+
|             | Quantity    | Value       | Quantity    | Value       |
+-------------+-------------+-------------+-------------+-------------+
| U. S .A     | 1,146       | 613         | 1,022       | 535         |
+-------------+-------------+-------------+-------------+-------------+
| China       | 12,270      | 6,370       | 17,089      | 8,009       |
+-------------+-------------+-------------+-------------+-------------+
| Australia   | 9           | 7           | 21          | 21          |
+-------------+-------------+-------------+-------------+-------------+
| Japan       | 0           | 0           | 0           | 0           |
+-------------+-------------+-------------+-------------+-------------+
| Russia      | 0           | 0           | 69          | 24          |
+-------------+-------------+-------------+-------------+-------------+
| Ukraine     | 251         | 123         | 0           | 0           |
+-------------+-------------+-------------+-------------+-------------+
| Myanmar     | 18          | 8           | 0           | 0           |
+-------------+-------------+-------------+-------------+-------------+
| Total       | 13,162      | 7,121       | 18,202      | 8,591       |
+-------------+-------------+-------------+-------------+-------------+

Source: Korea Customs Service

+-----------------+---------------+------------+----------+-----------+
| ## KOREA        |               |            |          |           |
| : Tariff Schedu |               |            |          |           |
| le For Oilseeds |               |            |          |           |
|                 |               |            |          |           |
| (Percent)       |               |            |          |           |
+-----------------+---------------+------------+----------+-----------+
| Commodity       | H.S. Code     | 2004       | 2005     | 2006      |
+-----------------+---------------+------------+----------+-----------+
| Soybean 1/      | 1201.00.0000  | 5(0)       | 5(0)     | 5(1)      |
+-----------------+---------------+------------+----------+-----------+
| Peanuts, in     | 1202.10.0000  | 40         | 40       | 40        |
| Shell 2/        |               |            |          |           |
+-----------------+---------------+------------+----------+-----------+
| Peanuts,        | 1202.20.0000  | 24         | 24       | 24        |
| Shelled 2/      |               |            |          |           |
+-----------------+---------------+------------+----------+-----------+
| Copra           | 1203.00.0000  | 3          | 3        | 3         |
+-----------------+---------------+------------+----------+-----------+
| Linseed         | 1204.00.0000  | 3          | 3        | 3         |
+-----------------+---------------+------------+----------+-----------+
| Rapeseed 3/     | 1205.00.0000  | 20(10)     | 20(10)   | 20(10)    |
+-----------------+---------------+------------+----------+-----------+
| Sunflower Seed  | 1206.00.0000  | 25         | 25       | 25        |
+-----------------+---------------+------------+----------+-----------+
| Cottonseed      | 1207.20.0000  | 3          | 3        | 3         |
+-----------------+---------------+------------+----------+-----------+
| Castor Beans    | 1207.30.0000  | 3          | 3        | 3         |
+-----------------+---------------+------------+----------+-----------+
| Sesame Seed 4/  | 1207.40.0000  | 40         | 40       | 40        |
+-----------------+---------------+------------+----------+-----------+
| Mustard Seed    | 1207.50.0000  | 3          | 3        | 3         |
+-----------------+---------------+------------+----------+-----------+
| Safflower Seed  | 1207.60.0000  | 3          | 3        | 3         |
+-----------------+---------------+------------+----------+-----------+

Note: The Seed Industry Act restricts imports of listed commodities for
planting seed purposes.

1/ The number in parenthesis in 2006 is assessed on the first 1.414 MMT
of soybeans imported for crushing purposes. An applied duty of 5 percent
is applied for 185,787 MT of food grade soybeans imported by Korea
Agro-Fishery Trade Corporation (abbreviated as \"aT\") under the tariff
rate quota. Soybeans imported out-of-quota by private importers are
assessed a tariff of 487 percent or Korean won 956/Kg, whichever is
greater.

2/ The in-quota amount is 4,907.3 MT on a shelled basis. Peanuts
imported out-of-quota are assessed a tariff of 230.5 percent.

3/ The number in parenthesis is the applied (temporary) duty on all
rapeseed imported.

4/ The in-quota amount is 6,731 MT. Sesame imported out-of-quota is
assessed a tariff of 630 percent or Korean won 6,660/Kg, whichever is
greater.

Source: Korea Customs Research Institute, Tariff Schedules of Korea.

# SECTION II. STATISTICAL TABLES OF MEALS

## Soybean Meal PS&D

![](media/image4.wmf)

## Soybean Meal Import Trade Matrix

![](media/image5.wmf)

Source: Korea Customs Service (KCS)

## 

![](media/image6.wmf)

## Rapeseed Meal Import Trade Matrix

![](media/image7.wmf)

Source: Korea Customs Service (KCS)

+-----------------+-----------------+-----------------+-----------------+
| ##              |                 |                 |                 |
| KOREA: Soybean  |                 |                 |                 |
| Meal Production |                 |                 |                 |
|                 |                 |                 |                 |
| (Metric Ton)    |                 |                 |                 |
+-----------------+-----------------+-----------------+-----------------+
| Month           | MY 03/04        | MY 04/05        | MY 05/06        |
+-----------------+-----------------+-----------------+-----------------+
| October         | 74,166          | 52,007          | 50,275          |
+-----------------+-----------------+-----------------+-----------------+
| November        | 87,160          | 63,602          | 55,745          |
+-----------------+-----------------+-----------------+-----------------+
| December        | 87,760          | 60,863          | 49,249          |
+-----------------+-----------------+-----------------+-----------------+
| January         | 64,761          | 58,126          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| February        | 74,277          | 63,673          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| March           | 76,996          | 63,324          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| April           | 71,085          | 62,109          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| May             | 57,934          | 67,986          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| June            | 59,835          | 60,931          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| July            | 64,305          | 63,288          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| August          | 56,856          | 67,821          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| September       | 50,078          | 59,080          | Na              |
+-----------------+-----------------+-----------------+-----------------+
| Total           | 825,212         | 742,808         | 155,269         |
+-----------------+-----------------+-----------------+-----------------+
| Extraction Rate | 75.78%          | 76.16%          | 75.70%          |
+-----------------+-----------------+-----------------+-----------------+

Source: Korea Soybean Processing Association

+---------------------------------+---------+-------+---------+-------+
| ## KOREA: Feed Ingredients use  |         |       |         |       |
+---------------------------------+---------+-------+---------+-------+
| Items                           | MY      |       | MY      |       |
|                                 | 2003/04 |       | 2004/05 |       |
+---------------------------------+---------+-------+---------+-------+
|                                 | 1,000   | Pe    | 1,000   | Pe    |
|                                 | MT      | rcent | MT      | rcent |
+---------------------------------+---------+-------+---------+-------+
| **Total Grains and Grain        | **      | **6   | **      | **6   |
| Substitution**                  | 9,831** | 5.8** | 9,896** | 5.5** |
+---------------------------------+---------+-------+---------+-------+
| \- Wheat                        | 859     | 5.8   | 1,153   | 7.6   |
+---------------------------------+---------+-------+---------+-------+
| \- Corn                         | 6,614   | 44.3  | 6,619   | 43.8  |
+---------------------------------+---------+-------+---------+-------+
| \- Others                       | 2,358   | 15.7  | 2,124   | 14.1  |
+---------------------------------+---------+-------+---------+-------+
| **Total Vegetable Protein**     | **      | **2   | **      | **2   |
|                                 | 3,398** | 2.8** | 3,510** | 3.2** |
+---------------------------------+---------+-------+---------+-------+
| \- Soybean Meal                 | 2,052   | 13.7  | 2,116   | 14.0  |
+---------------------------------+---------+-------+---------+-------+
| \- Rapeseed Meal                | 283     | 1.9   | 285     | 1.9   |
+---------------------------------+---------+-------+---------+-------+
| \- Cottonseed Meal              | 45      | 0.3   | 53      | 0.4   |
+---------------------------------+---------+-------+---------+-------+
| \- Palm Kernel Meal             | 310     | 2.1   | 343     | 2.3   |
+---------------------------------+---------+-------+---------+-------+
| Copra Meal                      | 374     | 2.5   | 397     | 2.6   |
+---------------------------------+---------+-------+---------+-------+
| \- Others                       | 334     | 2.3   | 316     | 2.0   |
+---------------------------------+---------+-------+---------+-------+
| **Total Animal Protein**        | **143** | **    | **129** | **    |
|                                 |         | 1.0** |         | 0.9** |
+---------------------------------+---------+-------+---------+-------+
| \- Fish meal                    | 43      | 0.3   | 41      | 0.3   |
+---------------------------------+---------+-------+---------+-------+
| -Meat & Bone Meal               | 23      | 0.2   | 19      | 0.1   |
+---------------------------------+---------+-------+---------+-------+
| -Others                         | 77      | 0.5   | 69      | 0.5   |
+---------------------------------+---------+-------+---------+-------+
| **Total Others**                | **      | **1   | **      | **1   |
|                                 | 1,564** | 0.4** | 1,575** | 0.4** |
+---------------------------------+---------+-------+---------+-------+
| **TOTAL COMPOUND FEED**         | **1     | **    | **1     | **    |
|                                 | 4,936** | 100** | 5,110** | 100** |
+---------------------------------+---------+-------+---------+-------+

Source: Korea Feed Association

##  

+--------------+------------+-------------+-------------+-------------+
| ## KORE      |            |             |             |             |
| A: Soybean M |            |             |             |             |
| eal Inclusio |            |             |             |             |
| n Rate for C |            |             |             |             |
| ompound Feed |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Animal Type  | MY2003/04  |             | MY2004/05   |             |
+--------------+------------+-------------+-------------+-------------+
|              | Soybean    | Compound    | Soybean     | Compound    |
|              | Meal       | Feed        | Meal        | Feed        |
|              | Inclusion  | Production  | Inclusion   | Production  |
|              | Rate       | (1,000M/T)  | Rate        | (1,000M/T)  |
|              | (Percent)  |             | (Percent)   |             |
+--------------+------------+-------------+-------------+-------------+
| Layer        | 13-18      | 1,983       | 13-18       | 2,134       |
+--------------+------------+-------------+-------------+-------------+
| Broiler 1/   | 18-23      | 1,813       | 18-23       | 2,054       |
+--------------+------------+-------------+-------------+-------------+
| Swine        | 15-21      | 5,473       | 15-21       | 5,244       |
+--------------+------------+-------------+-------------+-------------+
| Dairy Cattle | less than  | 1,670       | less than 5 | 1,599       |
|              | 5          |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Beef Cattle  | less than  | 3,043       | less than 2 | 3,213       |
| 2/           | 2          |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Others       | 13-18      | 866         | 13-18       | 815         |
+--------------+------------+-------------+-------------+-------------+
| Total        | 2,052      | 14,848      | 2,116       | 15,059      |
| (1,000MT)    |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+

1/ Include chicks

2/ Include Breeding Cattle

Source: America Soybean Association/Seoul

## 

+------------------+------------+------------+------------+-----------+
| ## KOREA         |            |            |            |           |
| : Imports of Maj |            |            |            |           |
| or Protein Meals |            |            |            |           |
|                  |            |            |            |           |
| (Oc              |            |            |            |           |
| tober/September) |            |            |            |           |
+------------------+------------+------------+------------+-----------+
|                  | MY 2003/04 |            | MY 2004/05 |           |
+------------------+------------+------------+------------+-----------+
|                  | Volume     | Value      | Volume     | Value     |
|                  |            |            |            |           |
|                  | (MT)       | (1,000\$)  | (MT)       | (1,000\$) |
+------------------+------------+------------+------------+-----------+
| Soybean Meal     | 1,292,642  | 378,334    | 1,444,410  | 374,555   |
+------------------+------------+------------+------------+-----------+
| Rapeseed Meal    | 308,864    | 52,448     | 292,267    | 44,560    |
+------------------+------------+------------+------------+-----------+
| Fish Meal        | 40,778     | 31,316     | 48,260     | 36,681    |
+------------------+------------+------------+------------+-----------+
| Bone Meal        | 805        | 517        | 199        | 561       |
+------------------+------------+------------+------------+-----------+
| Cottonseed Meal  | 40,066     | 8,068      | 59,771     | 9,634     |
+------------------+------------+------------+------------+-----------+
| Sunflower Seed   | 243        | 26         | 7,806      | 1,103     |
| Meal             |            |            |            |           |
+------------------+------------+------------+------------+-----------+
| Copra Meal       | 387,372    | 44,062     | 402,878    | 45,716    |
+------------------+------------+------------+------------+-----------+
| Palm Kernel Meal | 348,820    | 30,604     | 412,599    | 29,684    |
+------------------+------------+------------+------------+-----------+
| Corn Germ Meal   | 3,873      | 655        | 0          | 0         |
+------------------+------------+------------+------------+-----------+
| Others           | 78,031     | 7,982      | 150,580    | 15,707    |
+------------------+------------+------------+------------+-----------+
| Total            | 2,501,494  | 554,012    | 2,818,770  | 558,201   |
+------------------+------------+------------+------------+-----------+

Source: Korean Customs Service (KCS)

## 

+-----------+-----+--------+--------+-------+-------+-------+-------+
| ## KOREA: |     |        |        |       |       |       |       |
|  Soybean  |     |        |        |       |       |       |       |
| Meal Impo |     |        |        |       |       |       |       |
| rts for O |     |        |        |       |       |       |       |
| ct.-Dec.  |     |        |        |       |       |       |       |
| by Origin |     |        |        |       |       |       |       |
|           |     |        |        |       |       |       |       |
| (Unit:    |     |        |        |       |       |       |       |
| MT)       |     |        |        |       |       |       |       |
+-----------+-----+--------+--------+-------+-------+-------+-------+
| MY2005/06 | USA | Brazil | Arg    | India | China | O     | Total |
|           |     |        | entina |       |       | thers |       |
+-----------+-----+--------+--------+-------+-------+-------+-------+
| Oct. 2005 | 475 | 1      | 20,250 | 606   | 2,722 | 161   | 15    |
|           |     | 33,869 |        |       |       |       | 8,083 |
+-----------+-----+--------+--------+-------+-------+-------+-------+
| Nov       | 320 | 81,458 | 59,277 | 339   | 2,107 | 120   | 14    |
|           |     |        |        |       |       |       | 3,621 |
+-----------+-----+--------+--------+-------+-------+-------+-------+
| Dec       | 588 | 83,730 | 38,543 | 1,069 | 857   | 119   | 12    |
|           |     |        |        |       |       |       | 4,906 |
+-----------+-----+--------+--------+-------+-------+-------+-------+
| **S       | **1 | **299  | **118  | **2,  | **5,  | **    | *     |
| ubtotal** | ,38 | ,057** | ,070** | 014** | 686** | 400** | *426, |
|           | 3** |        |        |       |       |       | 610** |
+-----------+-----+--------+--------+-------+-------+-------+-------+
| MY2004/05 | 19  | 3      | 54,175 | 7,990 | 6,381 | 771   | 38    |
| a/        |     | 11,103 |        |       |       |       | 0,439 |
+-----------+-----+--------+--------+-------+-------+-------+-------+

a/ October -- December 2004

Source: Korea Customs Service (KCS)

+----------------+----------------+-----------------+-----------------+
| ## KOREA: Fe   |                |                 |                 |
| ed Production  |                |                 |                 |
| by Animal-type |                |                 |                 |
|                |                |                 |                 |
| (Octo          |                |                 |                 |
| ber/September, |                |                 |                 |
| 1,000 MT)      |                |                 |                 |
+----------------+----------------+-----------------+-----------------+
| Animal Type    | MY 2003/04     | MY 2004/05      | MY 2005/06      |
|                |                |                 |                 |
|                |                |                 | a/              |
+----------------+----------------+-----------------+-----------------+
| Poultry        | 3,796          | 4,188           | 4,100           |
+----------------+----------------+-----------------+-----------------+
| Swine          | 5,473          | 5,244           | 5,300           |
+----------------+----------------+-----------------+-----------------+
| Cattle         | 4,713          | 4,812           | 4,900           |
+----------------+----------------+-----------------+-----------------+
| Others b/      | 866            | 815             | 800             |
+----------------+----------------+-----------------+-----------------+
| Total          | 14,848         | 15,059          | 15,100          |
+----------------+----------------+-----------------+-----------------+

a/ FAS/ Seoul forecast

b/ include ducks, pet food, rabbit, horse, sheep, deer, quail etc.

Source: Korea Feed Association (KFA)

## 

+-----------+-----------+-----------+-----------+-----------+-----------+
| ## KOREA: |           |           |           |           |           |
|  Animal I |           |           |           |           |           |
| nventory  |           |           |           |           |           |
|           |           |           |           |           |           |
| (1,000    |           |           |           |           |           |
| Head,     |           |           |           |           |           |
| 1,000     |           |           |           |           |           |
| Birds)    |           |           |           |           |           |
+-----------+-----------+-----------+-----------+-----------+-----------+
| Animal    | Year      | March     | June      | September | December  |
+-----------+-----------+-----------+-----------+-----------+-----------+
| Beef      | 2002      | 1,371     | 1,448     | 1,461     | 1,410     |
| Cattle    |           |           |           |           |           |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2003      | 1,337     | 1,423     | 1,464     | 1,480     |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2004      | 1,521     | 1,627     | 1,667     | 1,666     |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2005      | 1,654     | 1,757     | 1,825     | 1,819     |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2006      | 1,820 c/  | 1,927 c/  | na        | 1,940c/   |
+-----------+-----------+-----------+-----------+-----------+-----------+
| Dairy     | 2002      | 548       | 545       | 543       | 544       |
| Cattle    |           |           |           |           |           |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2003      | 552       | 541       | 526       | 519       |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2004      | 517       | 509       | 503       | 497       |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2005      | 497       | 491       | 485       | 479       |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2006      | 478 c/    | 476 c/    | na        | 467c/     |
+-----------+-----------+-----------+-----------+-----------+-----------+
| Swine     | 2002      | 8,719     | 8,791     | 9,033     | 8,974     |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2003      | 9,027     | 9,051     | 9,287     | 9,231     |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2004      | 9,189     | 9,017     | 9,046     | 8,908     |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2005      | 8,838     | 8,786     | 8,993     | 8,962     |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2006      | 9,029 c/  | 9,056 c/  | na        | 9,070d/   |
+-----------+-----------+-----------+-----------+-----------+-----------+
| Layer a/  | 2002      | 50,471    | 49,589    | 50,299    | 50,191    |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2003      | 48,740    | 49,080    | 49,380    | 48,350    |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2004      | 47,910    | 48,060    | 49,090    | 48,000    |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2005      | 51,370    | 54,390    | 55,020    | 53,392    |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2006      | 53,420 c/ | 52,490 c/ | na        | 52,180d/  |
+-----------+-----------+-----------+-----------+-----------+-----------+
| Broiler   | 2002      | 52,436    | 72,193    | 47,118    | 45,005    |
| b/        |           |           |           |           |           |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2003      | 47,490    | 66,756    | 42,451    | 44,803    |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2004      | 36,493    | 62,170    | 47,714    | 50,120    |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2005      | 52,740    | 88,137    | 65,830    | 50,422    |
+-----------+-----------+-----------+-----------+-----------+-----------+
|           | 2006      | 57,090 c/ | na        | na        | 67,330d/  |
+-----------+-----------+-----------+-----------+-----------+-----------+

a/ excluding breeders.

b/ excluding multi‑use broilers.

c/ Korea Rural Economic Institute Forecast.

d/ Annual Average by Korea Rural Economic Institute Forecast

Source: Korea Rural Economic Institute

##  

+------------------+------------------+----------+----------+--------+
| ## KOREA         |                  |          |          |        |
| : Applied Tariff |                  |          |          |        |
|  Schedule for Oi |                  |          |          |        |
| l Cake and Meals |                  |          |          |        |
|                  |                  |          |          |        |
| (Percent)        |                  |          |          |        |
+------------------+------------------+----------+----------+--------+
| Commodity        | H.S. Code        | 2004     | 2005     | 2006   |
+------------------+------------------+----------+----------+--------+
| Soybean Meal a/  | 2304.00.0000     | 3 (1.8)  | 3 (1.8)  | 3      |
|                  |                  |          |          | (1.8)  |
+------------------+------------------+----------+----------+--------+
| Peanut Meal      | 2305.00.0000     | 5        | 5        | 5      |
+------------------+------------------+----------+----------+--------+
| Cottonseed Meal  | 2306.10.0000     | 5 (2)    | 5 (2)    | 5 (2)  |
| b/               |                  |          |          |        |
+------------------+------------------+----------+----------+--------+
| Linseed Meal     | 2306.20.0000     | 5        | 5        | 5      |
+------------------+------------------+----------+----------+--------+
| Sunflower Seed   | 2306.30.0000     | 5        | 5        | 5      |
| Meal             |                  |          |          |        |
+------------------+------------------+----------+----------+--------+
| Rapeseed Meal    | 2306.40.0000     | 0        | 0        | 0      |
+------------------+------------------+----------+----------+--------+
| Copra Meal c/    | 2306.50.0000     | 5        | 5(2)     | 5(2)   |
+------------------+------------------+----------+----------+--------+
| Palm Kernel Meal | 2306.60.0000     | 5        | 5(2)     | 5(2)   |
| d/               |                  |          |          |        |
+------------------+------------------+----------+----------+--------+

a/ the figure in parentheses is the agreed rate under the 1993 bilateral
agreement.

b/ the in-quota tariff rate is in parentheses. The duty is assessed on
the first 263,000 MT of cottonseed meal. The out-of-quota tariff rate is
five percent.

c/ the in-quota tariff rate is in parentheses. The duty is assessed on
the first 707,000 MT of copra meal. The out-of-quota tariff rate is five
percent

d/ the in-quota tariff rate is in parentheses. The applied duty is
assessed on the first 707,000 MT of palm kernel meal. The out-of-quota
tariff rate is five percent.

Source: Korea Customs Service

# SECTION II. STATISTICAL TABLES OF OILS 

## Soybean Oil PS&D 

![](media/image8.wmf)

## Soybean Oil Import Trade Matrix 

![](media/image9.wmf)

Source: Korea Customs Service (KCS)

## Palm Oil PS&D 

![](media/image10.wmf)

## Palm Oil Import Trade Matrix 

![](media/image11.wmf)

Source: Korea Customs Service (KCS)

##  

+----------------+----------------+-----------------+-----------------+
| ## KOREA:      |                |                 |                 |
|  Vegetable Oil |                |                 |                 |
|  Production 1/ |                |                 |                 |
|                |                |                 |                 |
| (Metric Ton)   |                |                 |                 |
+----------------+----------------+-----------------+-----------------+
| Commodities    | MY 2002/03     | MY 2003/04      | MY 2004/05      |
+----------------+----------------+-----------------+-----------------+
| Soybean Oil    | 217,301        | 194,294         | 177,903         |
+----------------+----------------+-----------------+-----------------+
| Corn Oil       | 48,041         | 46,077          | 43,299          |
+----------------+----------------+-----------------+-----------------+
| Sesame Oil     | 25,989         | 21,774          | 22,413          |
+----------------+----------------+-----------------+-----------------+
| Rice Bran Oil  | 10,000         | 10,000          | 10,000          |
+----------------+----------------+-----------------+-----------------+
| Rapeseed Oil   | 431            | 402             | 640             |
+----------------+----------------+-----------------+-----------------+
| Perilla Oil    | 12,610         | 17,470          | 17,694          |
+----------------+----------------+-----------------+-----------------+
| Total          | 315,378        | 290,017         | 271,949         |
+----------------+----------------+-----------------+-----------------+

1/ FAS/Seoul estimates

Source: Agricultural Affairs, U.S. Embassy, Seoul

+-----------------+-----------------+-----------------+-----------------+
| ##              |                 |                 |                 |
| KOREA: Soybean  |                 |                 |                 |
| Oil Production  |                 |                 |                 |
|                 |                 |                 |                 |
| (Metric Ton)    |                 |                 |                 |
+-----------------+-----------------+-----------------+-----------------+
| Month           | MY 03/04        | MY 04/05        | MY 05/06        |
+-----------------+-----------------+-----------------+-----------------+
| October         | 17,495          | 12,562          | 12,000          |
+-----------------+-----------------+-----------------+-----------------+
| November        | 20,711          | 16,026          | 13,700          |
+-----------------+-----------------+-----------------+-----------------+
| December        | 21,765          | 14,173          | 12,000          |
+-----------------+-----------------+-----------------+-----------------+
| January         | 15,156          | 14097           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| February        | 17,089          | 14810           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| March           | 17,372          | 14819           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| April           | 16,538          | 14536           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| May             | 13,423          | 16208           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| June            | 14,180          | 14672           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| July            | 15,099          | 15000           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| August          | 13,507          | 17000           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| September       | 11,959          | 14000           | Na              |
+-----------------+-----------------+-----------------+-----------------+
| Total           | 194,294         | 177,903         | 37,700          |
+-----------------+-----------------+-----------------+-----------------+
| Extraction Rate | 17.84%          | 18.24%          | 18.38%          |
+-----------------+-----------------+-----------------+-----------------+

Source: Korea Soybean Processing Association

##  

+-----------------+-----------------+-----------------+-----------------+
| ## KOR          |                 |                 |                 |
| EA: The Supply  |                 |                 |                 |
| of Edible Oils  |                 |                 |                 |
|                 |                 |                 |                 |
| (Metric Ton)    |                 |                 |                 |
+-----------------+-----------------+-----------------+-----------------+
| Commodity       | MY 2002/03      | MY 2003/04      | MY 2004/05      |
+-----------------+-----------------+-----------------+-----------------+
| Soybean Oil     | 374,608         | 405,527         | 421,550         |
+-----------------+-----------------+-----------------+-----------------+
| Palm Oil        | 207,704         | 212,799         | 228,351         |
+-----------------+-----------------+-----------------+-----------------+
| Corn Oil        | 55,437          | 55,732          | 57,096          |
+-----------------+-----------------+-----------------+-----------------+
| Rapeseed Oil    | 17,562          | 19,455          | 20,341          |
+-----------------+-----------------+-----------------+-----------------+
| Coconut Oil     | 43,616          | 52,694          | 55,882          |
+-----------------+-----------------+-----------------+-----------------+
| Cottonseed Oil  | 10,385          | 7,239           | 9,526           |
+-----------------+-----------------+-----------------+-----------------+
| Sesame Oil      | 26,441          | 22,232          | 23,218          |
+-----------------+-----------------+-----------------+-----------------+
| Rice Bran Oil   | 13,185          | 13,435          | 13,149          |
+-----------------+-----------------+-----------------+-----------------+
| Perilla Oil     | 12,745          | 17,959          | 18,325          |
+-----------------+-----------------+-----------------+-----------------+
| Fish Oil        | 6,658           | 9,288           | 10,104          |
+-----------------+-----------------+-----------------+-----------------+
| Sunflower Oil   | 1,139           | 1,076           | 1,568           |
+-----------------+-----------------+-----------------+-----------------+
| Total           | 769,479         | 817,436         | 859,110         |
+-----------------+-----------------+-----------------+-----------------+

Source: Agricultural Affairs, U.S. Embassy, Seoul

+--------------+------------+-------------+-------------+-------------+
| ## KOREA     |            |             |             |             |
| : Fats And O |            |             |             |             |
| ils Imports  |            |             |             |             |
|              |            |             |             |             |
| (MT & US\$   |            |             |             |             |
| 1,000,       |            |             |             |             |
| Oct./Sep.)   |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Commodity    | MY 2003/04 |             | MY 2004/05  |             |
+--------------+------------+-------------+-------------+-------------+
|              | Volume     | Value       | Volume      | Value       |
+--------------+------------+-------------+-------------+-------------+
| Palm Oil     | 212,799    | 107,370     | 228,351     | 100,946     |
+--------------+------------+-------------+-------------+-------------+
| Tallow       | 64,664     | 30,384      | 80,322      | 34,855      |
+--------------+------------+-------------+-------------+-------------+
| Coconut Oil  | 52,694     | 32,011      | 55,882      | 38,253      |
+--------------+------------+-------------+-------------+-------------+
| Cottonseed   | 7,239      | 4,748       | 9,526       | 5,815       |
| Oil          |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Fish Oil     | 8,288      | 9,864       | 9,104       | 10,895      |
+--------------+------------+-------------+-------------+-------------+
| Soy Oil      | 211,233    | 138,287     | 243,647     | 137,659     |
+--------------+------------+-------------+-------------+-------------+
| Corn Oil     | 12,130     | 9,655       | 13,797      | 10,364      |
+--------------+------------+-------------+-------------+-------------+
| Rapeseed Oil | 19,052     | 13,398      | 19,701      | 12,696      |
+--------------+------------+-------------+-------------+-------------+
| Palm Kernel  | 7,467      | 4,607       | 7,146       | 5,213       |
| Oil          |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Tung Oil     | 5,041      | 7,306       | 4,242       | 7,437       |
+--------------+------------+-------------+-------------+-------------+
| Rice Bran    | 3,435      | 2,906       | 3,149       | 2,697       |
| Oil          |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Castor Oil   | 6,496      | 8,805       | 6,230       | 9,213       |
+--------------+------------+-------------+-------------+-------------+
| Linseed Oil  | 6,252      | 5,123       | 6,085       | 7,271       |
+--------------+------------+-------------+-------------+-------------+
| Sunflower    | 1,076      | 1,525       | 1,568       | 2,461       |
| Oil          |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Safflower    | 104        | 306         | 165         | 368         |
| Oil          |            |             |             |             |
+--------------+------------+-------------+-------------+-------------+
| Olive Oil    | 11,893     | 42,051      | 26,630      | 98,914      |
+--------------+------------+-------------+-------------+-------------+
| Jojoba Oil   | 23         | 369         | 26          | 293         |
+--------------+------------+-------------+-------------+-------------+
| Peanut Oil   | 6          | 13          | 65          | 128         |
+--------------+------------+-------------+-------------+-------------+
| Sesame Oil   | 458        | 834         | 805         | 1,455       |
+--------------+------------+-------------+-------------+-------------+
| Perilla Oil  | 490        | 556         | 631         | 615         |
+--------------+------------+-------------+-------------+-------------+
| Camellia Oil | 9          | 57          | 15          | 94          |
+--------------+------------+-------------+-------------+-------------+
| Other Oil    | 1,872      | 5,987       | 5,868       | 17,383      |
+--------------+------------+-------------+-------------+-------------+
| Total        | 632,721    | 426,162     | 722,955     | 505,025     |
+--------------+------------+-------------+-------------+-------------+

Source: Korea Customs Service (KCS)

## 

+-------------+-----------+---------+---------+-----------+-----------+
| ## KOREA:   |           |         |         |           |           |
|  Soybean Oi |           |         |         |           |           |
| l Imports f |           |         |         |           |           |
| or Oct.-Dec |           |         |         |           |           |
| . by Origin |           |         |         |           |           |
|             |           |         |         |           |           |
| (Unit: MT)  |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+
| MY2005/06   | USA       | Ar      | Brazil  | Others    | Total     |
|             |           | gentina |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+
| Oct. 2005   | 19        | 23,458  | 2,313   | 3         | 25,793    |
+-------------+-----------+---------+---------+-----------+-----------+
| Nov         | 71        | 19,820  | 2,543   | 4         | 22,438    |
+-------------+-----------+---------+---------+-----------+-----------+
| Dec         | 18        | 19,410  | 2,040   | 21        | 21,489    |
+-------------+-----------+---------+---------+-----------+-----------+
| *           | **108**   | **6     | **      | **28**    | *         |
| *Subtotal** |           | 2,688** | 6,896** |           | *69,720** |
+-------------+-----------+---------+---------+-----------+-----------+
| MY2004/05   | 81        | 53,589  | 3,571   | 7         | 57,248    |
| a/          |           |         |         |           |           |
+-------------+-----------+---------+---------+-----------+-----------+

a/ October -- December 2004

Source: Korea Customs Service (KCS)

## 

+------------------+-------------+----------+-----------+------------+
| ##               |             |          |           |            |
| KOREA: Applied T |             |          |           |            |
| ariff Schedule F |             |          |           |            |
| or Fats And Oils |             |          |           |            |
|                  |             |          |           |            |
| (Percent)        |             |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Commodity        | H.S. Code   | General  | 2005      | 2006       |
|                  |             | Rate     |           |            |
+------------------+-------------+----------+-----------+------------+
| Lard             | 1           | 3        | 3         | 3          |
|                  | 501.00.10XX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Beef Tallow      | 1           | 2        | 2         | 2          |
|                  | 502.00.10XX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Other Tallow     | 1           | 3        | 3         | 3          |
|                  | 502.00.90XX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Fish Oil         | 1           | 3        | 3         | 3          |
|                  | 504.XX.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Soybean Oil a/   | 1           | 8        | 5.4       | 5.4        |
|                  | 507.XX.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Peanut Oil a/    | 1           | 40       | 27        | 27         |
|                  | 508.XX.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Olive Oil        | 1           | 8        | 8         | 8          |
|                  | 509.XX.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Palm Crude Oil   | 1           | 3        | 3         | 3          |
|                  | 511.10.0000 |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Palm Oil         | 1           | 2        | 2         | 2          |
|                  | 511.90.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Sunflower Oil    | 1           | 10       | 10        | 10         |
|                  | 512.1X.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Safflower Oil    | 1           | 8        | 8         | 8          |
|                  | 512.1X.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Cotton Seed Oil  | 1           | 8        | 5.4       | 5.4        |
| a/               | 512.2X.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Coconut Oil      | 1           | 3        | 3         | 3          |
|                  | 513.1X.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Palm Kernel Oil  | 1           | 8        | 5         | 5          |
|                  | 513.2X.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Rapeseed Oil,    | 1           | 10       | 10        | 8 b/       |
| Crude            | 514.10.1000 |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Rapeseed Oil,    | 1           | 30       | 30        | 10 c/      |
| Refined          | 514.19.1000 |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Linseed Oil      | 1           | 8        | 8         | 8          |
|                  | 515.1X.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Corn Oil         | 1           | 8        | 8         | 8          |
|                  | 515.2X.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Castor Oil       | 1           | 8        | 8         | 8          |
|                  | 515.30.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Tung Oil         | 1           | 8        | 8         | 8          |
|                  | 515.40.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+
| Sesame Oil d/    | 1           | 40       | 40        | 40         |
|                  | 515.50.XXXX |          |           |            |
+------------------+-------------+----------+-----------+------------+

a/ Per Country Schedule.

b/ In-Quota for whole imported quantities.

c/ In-Quota for whole imported quantities under HS Code 1514.19.1000,
1514.19.9000, 1514.19.9000, 1514.99.1010 and 1514.99.9000.

d/ In-Quota tariff rate. Quota is 668 MT. The out-of-quota tariff rate
is 630 percent or 12,060 Won/Kg, whichever is greater.

Source: Korea Customs Research Institute, Tariff Schedules for Korea

#