The two sides have been locked in trade talks since 2008 in order to find an agreement to export terms for paprika, according to the Ministry of Agriculture Food and Rural Affairs.
This comes after the RoK’s exports of paprika reached US$91.5 million in 2019, with Japan making up 99.7% of the overall volume. Other destinations include Taiwan (China), Hong Kong (China), Singapore, and Russia.
Last year saw Vietnam import US$16 million worth of pears from the RoK, in addition to US$6.6 million worth of strawberries. Furthermore, grapes and apples were also among the leading Korean agricultural products in the nation.
The country represented the third-largest export destination for the RoK in 2019, with China and the United States making up the top two.
The RoK’s combined exports to the nation in 2019 reached a figure of US$48 billion, marking a decline of 0.9% on year.