South Korea will be resuming imports of Canadian beef after an eight year long ban against the meat whose image was tarnished because of Mad Cow disease.

Media outlets in the country, including the Korean Herald, say the government made the announcement on Friday in Seoul.

Agriculture Minister Gerry Ritz made the announcement himself at a farm in Spruce Grove on Friday morning.

He says that the lift of the ban is a great gift for the Canadian economy and will add $30M annually to the cattle industry within the first three years.

All beef exports were suspended as a result of Canada's first case of bovine spongiform encephalopathy, or BSE, in 2003.

Now, the South Korean government says local livestock producers will be able to sell Canadian meat from cows younger than 30 months old starting immediately.

In December, Ritz reported that South Korea had taken a 'big step' towards allowing imports of Canadian beef.

Korea is the last major Asian country to agree to lower its restrictions on Canadian beef.

With files from ctv.ca