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Korean Firms Clinch New U.S. Beef Contracts

News2008-05-11
Korean Firms Clinch New U.S. Beef Contracts

Korean companies have clinched new contracts with U.S. meat processors to import U.S. beef products.

The contracts reflect Korea’s new sanitary conditions for beef imports that will be announced Thursday.

Korean importers said they signed the contracts last week and that the beef will arrive in Korea as late as mid June.

Ribs will likely account for the largest portion of the shipment because they are considerably lower priced than domestic beef. U.S. leg bones, intestines and tails will also be imported, though they are not popular among American consumers.

Large Korean distributors and restaurants, however, are probably wary of selling American beef for the time being due to growing worry over the safety of U.S. beef.

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