DEMAND FOR MEAT AND FISH PRODUCTS IN KOREA
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The Korean livestock industry is currently facing the critical challenge of the market liberalization trend under the World Trade Organization. This study analyzes the consumption behavior of meat and fish products in Korea, by estimating the Linear Approximate Almost Ideal Demand System (LA/AIDS).
The empirical results indicate that beef imports in Korea would increase in the future under trade liberalization. If cheap and better quality imported beef are introduced to Korean consumers, Hanwoo (Korean domestic cattle) beef would not maintain its market share.
Key words: Meat, fish, trade liberalization, per capita consumption, demand, separability, and price elasticity.