USSEC Hosts U.S. Food-Bean Conference Targeting Korean Soy Food Processing Industry
USSEC hosted a 2015 U.S. food-bean conference on April 2 in Seoul, South Korea to bring together Korean food-bean end-users/importers and U.S. exporters to update both parties on market developments and to discuss terms and conditions for food-bean trade. This conference was a USSEC activity that supports 100 percent implementation of the tariff rate quota allocated for identity preserved (IP) food-bean import in 2015 and 2016 under the Korea-U.S. Free Trade Agreement. Nine U.S. food-bean exporters including SB&B Foods, Inc.; SunOpta, Inc.; Bluegrass Farms of Ohio, Inc.; Clarkson Grain Co., Inc.; The DeLong Co., Ltd.; Huron Commodities, Inc.; NeCo Seed Farms, Inc.; and Soyko International, Inc. introduced their companies to about 40 Korean food-bean end-users/importers focusing on their food-bean varieties, IP handling, and logistics. United Soybean Board (USB) director Belinda Burrier; USSEC Regional Director – North Asia Paul Burke; USSEC Marketing Director – Human Nutrition/Oil Marypat Corbett; and USSEC Marketing Assistant – Human Nutrition/Oil Jelena Smojver also attended the conference. After the conference, 84 percent of survey respondents, based on the information provided at this conference, said that the U.S. would supply Korea with good, consistent quality soybeans in a stable manner. Following the conference, ten participants from the U.S. visited tofu plants at Malgunsikpum, Inc., and a soymilk plant at Dr. Chung’s Food Co., Ltd., and shared information on specification of food-beans suitable for soy food processing.