South Korean Food Market Significantly Impacted by COVID-19 Pandemic, USDA Says
The South Korean food market has been “seriously hit” by the impacts of the COVID-19 pandemic and some importers have reported a “large drop” in sales, according to a U.S. Department of Agriculture Foreign Agricultural Service report released March 23.…
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The USDA said the “strong” U.S. dollar is making imports in South Korea more expensive, and air and sea freight costs are “trending higher as supply chains face disruption.” Although importers are facing challenges, trade has not been “significantly disrupted,” the report said, partly due to South Korea’s swift response to the virus.