According to the agreement, Korean consumers will be allowed to buy rice at the U.S. retail price.

"This agreement will give U.S. farmers an opportunity to expand sales to Korea, and it will allow Korean consumers access to a high-quality American product," U.S. Agriculture secretary Anne Veneman said. "This marks yet another step in gaining greater access for our growers to expanding markets across the Asian region."

U.S. Trade Representative Robert B. Zoellick said the focus of the agreement was to increase the quality and quantity of openings for U.S. rice exporters under the World Trade Organizations rule established by the Uruguay Round.

"Not only will U.S. rice imports increase, but the quality of access will be substantially improved -- Korean consumers will now be able to buy rice from the United States at the retail level," said Zoellick.