The highest price ever for Korean beef of 90.58 million won at auction

Korean beef raised by a farmer in Jeollanam-do won the Presidential Award, the highest honor in the 2023 National Korean Beef Competition. Courtesy of Jeollanam-do

A cow for Korean beef raised by a farm in South Jeolla Province was sold for 90.58 million won, the highest price ever. The farmhouse that raised the cow received the Presidential Award.

South Jeolla Province announced on December 21 that "A farmhouse in South Jeolla Province won the Presidential Award, the highest prize, at the 2023 National Korean Beef Competency Evaluation Competition, jointly hosted by the Ministry of Agriculture, Food and Rural Affairs, the Korea Livestock Improvement Association, and the National Korean Beef Association."

Seo Seung-min, 62, who raises 268 cows in Yeongam-gun, South Jeolla Province, has raised the most expensive cow ever. A 32-month-old cow that Seo raised was sold at 90.58 million won. Not only did it hit the highest price among cows for Korean beef in the country not only this year but in history. The bidding price was more than twice as high as another cow (42.26 million won), which won the Prime Minister's Award. Seo’s cow was rated 1++A and weighed 1,028 kilograms. The weight of the meat after slaughter was 647 kilograms, far higher than that of other cows. The quality was also excellent. It is said that the intramuscular fat level was the highest at 93, and the sirloin cross-sectional area was 171 ㎠, which was incomparable with other cows.

The wholesale price per kilogram of Seo’s cow was 140,000 won, 7.7 times higher than the national average wholesale price of 18,000 won per kilogram. Seo also received the Presidential Award in 2013 for selling the highest-grade Korean beef.

※This article has undergone review by a professional translator after being translated by an AI translation tool.