U.S. welcomes Korean decision on beef imports

By Missy Ryan

WASHINGTON (Reuters) - The Bush administration on Friday welcomed South Korea's decision to relax import rules for U.S. beef, removing a stubborn obstacle to consideration of a major bilateral trade deal.

"I am very pleased that safe, affordable, high-quality American beef will soon be back on the Korean table," U.S. Trade Representative Susan Schwab said in a statement.

The deal came just a few hours before South Korean President Lee Myung-bak arrived at the Camp David presidential retreat for talks on trade and security over the next day.

With the export beef deal in hand, Bush planned to serve Lee roasted beef tenderloin for dinner.

The long-running trade spat has not only been a frustration to the U.S. beef industry but has blocked serious debate about the lucrative trade deal, which was clinched over a year ago and must still be approved by Congress.

Early Friday morning, Seoul officially announced it would gradually open its market to U.S. beef imports as Washington intensifies safety standards.

Eventually, if all goes well, a full range of U.S. beef boneless and bone-in, from animals of any age, would be shipped to a market estimated to be worth up to $1 billion a year.

The announcement came after days of negotiations in Seoul aimed at resuming regular U.S. beef shipments for the first time since mad cow disease was discovered here in 2003.