Beef Issue in South Korea By: Helen Lee

Beef!! Beef is used in many of Koreas traditional dishes and in many other foods. Nearly everyone Beef! (not referring to Angus Ning)

Updates about South Korea South Korean beef markets accepted American beef products to the country. Since July, American beef products were imported to South Korea Because beef price has decreased, more consumers. American beef is cheap higher possibility to have more consumers

D (Demand for Beef) Decrease in Beef Price Affecting Demand S1S1 P1P1 D P (Price) E1E1 E2E2 D1D1 D2D2 S2S2 P2P2 E1 before American beef products were imported to South Korea E2 after American beef products were imported to South Korea

Rumor about Mad Cow Disease..?? American beef is cheap more consumers! Korean beef is expensive few consumers Korean farmers are against American beef because they arent able to sell beef because of American beef. People against American beef made rumor: American beef is not safe because contaminated by Mad Cow Disease

D (Demand for Beef) Decrease in Price from Rumors Affecting Demand S1S1 P1P1 P (Price) E1E1 E2E2 D1D1 D2D2 S2S2 P2P2 E1 before American beef products were imported to South Korea E2 after American beef products were imported to South Korea E3 after rumors were spread about Mad Cow Disease in American beef products P3P3 D3D3 E3E3 D1D1 D2D2

Effects Currently American beef is still cheap, but not being sold. If rumor proves to be false, E3 changes back to E2 (the demand and price of American beef return to normal)

D (Demand for Beef) Decrease in Beef Price Affecting Demand S1S1 P1P1 D P (Price) E1E1 E2E2 D1D1 D2D2 S2S2 P2P2 E1 before American beef products were imported to South Korea E2 after American beef products were imported to South Korea

More South Koreans are believing that American beef is safe Thank you for watching my presentation!

Bibliography: "." Money Today. 10 Oct Money Today. 18 Oct