Australia: demand from Korea surges despite tariff pressures

South Korea continues to consolidate its position as one of Australia’s top export markets for beef, driven by strong consumer demand despite tariff pressures linked to the KAFTA safeguard mechanism. The quota is expected to be reached by late July in 2026, earlier than usual, which would trigger a tariff increase from 5.3% to 24%.

According to MLA, this accelerated pace reflects the strength of Australian beef in the Korean market. While the safeguard adds short-term constraints, the outlook remains positive as tariff rates are set to fall to zero toward 2028–2029 under the trade agreement.

Consumer trends are also supporting demand. Korean households are increasingly prioritizing convenience, boosting purchases of red meat through e-commerce and convenience stores, particularly in suburban areas.

This shift toward quick and easy meal solutions continues to underpin demand for Australian beef, reinforcing Korea’s role as a key growth market despite the current tariff environment.