South Korea: Analysis of the substitution relationship between imported marine products and domestic products

Published 2023년 3월 20일

Tridge summary

The article highlights the changing consumption trends in seafood in South Korea, with a focus on the increasing importation of salmon and yellowtail. It notes that young people tend to prefer salmon, while middle-aged and elderly consumers lean towards domestic raw fish. The article also discusses the impact of free trade agreements on seafood imports and the influence of western dining culture on the rise in salmon consumption. Additionally, it mentions a survey that finds freshness, taste, price, and convenience are key factors in seafood purchasing decisions and notes the need for strategies to address the substitutability of imported and domestic sashimi fish. It also emphasizes the need to cater to different age groups and expand the market by providing fresh and refrigerated seafood to school-age classes.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As imports of salmon and yellowtail increase, consumption trends are clearly changing Salmon consumption is high among young people, and middle-aged and elderly people prefer domestic raw fish. It is necessary to develop products that can be consumed together with imported and domestic products. Since the Korea-Chile Free Trade Agreement (FTA) was concluded, Korea's seafood imports have increased rapidly. Looking at the status of seafood imports by country as of 2021, the share of total imports in China and the United States decreased compared to 2000, while Vietnam, Peru, and Chile increased. As of 2021, fishery product imports by item were 322,000 tons of pollock, 135,000 tons of squid, 88,000 tons of shrimp, and 76,000 tons of sardines. Among the top items, pollock is imported as it accounts for a large portion of the imports from the Russian ocean-going joint venture, which is not related to the FTA. For squid, imports from Peru and China increased after the FTA between Korea ...

Source: Fisheco