Tasks for strengthening the competitiveness of the seaweed industry in South Korea

Published 2024년 11월 4일

Tridge summary

Last year, seaweed became the first marine product to achieve exports of 1 trillion won (790 million dollars), and has emerged as Korea's representative marine product. However, as exports increased, the problem of skyrocketing domestic seaweed prices also arose. This is why we have seen the strange phenomenon of importing seaweed from China, which dominates the global market. Recently, concerns have been growing about the development of the seaweed industry due to the climate crisis, aging of aquaculture farms, and lack of new investment by small and medium-sized businesses. Amid the warning signals for the development of the seaweed industry, the government announced a plan to strengthen the competitiveness of the seaweed industry at the end of last month.

Original content

Last year, Kim, the first aquatic product to achieve exports of 1 trillion won (790 million dollars), emerged as Korea’s representative aquatic product. However, as exports increased, the problem of skyrocketing domestic Kim prices also arose. This led to the strange phenomenon of Korea importing Kim from China, which dominates the global market. Recently, concerns have been growing about the development of the Kim industry due to the climate crisis, aging of aquaculture farms, and lack of new investment by small and medium-sized businesses. While warning signals were being raised about the development of the Kim industry, the government announced the ‘Kim Industry Competitiveness Enhancement Plan’ at the end of last month. According to the Kim Industry Competitiveness Enhancement Plan, if we stably supply the amount needed for domestic and export demand, and improve the efficiency of processing and distribution through scale and smartization, so that Kim can become a globally ...
Source: Fisheco

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