Shipments of Australian beef into South Korea have reached more than 90% of the 2026 safeguard volume of 196,00 mt, meaning the tariff rate on Australian beef will soon jump from 5.3% to 24% for the remainder of the year. U.S. Meat Export Federation (USMEF) Vice President of Asia Pacific Jihae Yang said Korean retailers and restaurants are already placing orders for more U.S. chilled beef in response.
It is not unusual for Australia to hit the safeguard level, but it typically happens much later in the year, according to Yang. With importers stockpiling Australian beef ahead of the tariff increase, nearly 90% of Korea’s imports from Australia this year have been frozen. This left little room for chilled product from Australia, creating additional opportunities for chilled U.S. beef.
Korea is seeing growing interest in prime beef cuts not typically sought out by U.S. consumers: chuck eye roll, top blade, rib finger, and boneless short ribs.
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