Could the era of Hanwoo selling for 100 million won a head begin? 29th National Hanwoo Ability Evaluation Contest opens on the 2nd of next month

[Financial News] Interest is focused on whether a single Hanwoo will fetch more than 100 million won at auction for the first time in South Korea.
According to the Korea Animal Improvement Association on the 15th, the 29th National Hanwoo Ability Evaluation Contest will be held from the 2nd to the 4th of next month at the Nonghyup Economic Holdings Eumseong Livestock Products Auction Market in Eumseong, North Chungcheong Province.
Co-hosted by the Ministry of Agriculture, Food and Rural Affairs and the National Hanwoo Association, the contest is the country’s most prestigious event for comprehensively evaluating the meat quality and yield of Hanwoo carcasses. It presents a vision for developing the Hanwoo industry through Hanwoo improvement and premium beef production.
The main competition will feature a large number of top-grade Hanwoo, embodying the results of quality improvements achieved through Hanwoo breeding. A total of 285 steers are expected to be entered.
Shipments will begin on the 2nd of next month, followed by slaughter on the 3rd and the auction on the 4th. The entered cattle will be fairly evaluated according to the judging criteria, and a total of 13 winners are to be selected.
Of particular interest is whether the auction price of the Presidential Award-winning animal at this year’s contest will exceed 100 million won.
The awards ceremony for the 29th National Hanwoo Ability Evaluation Contest will be held on December 3 at Sejong Hall of the Livestock Products Quality Evaluation Institute for winners in the main competition, the non-parous cow category, and the shortened rearing period category.
[email protected] Seo-yeon Kim Reporter