Vietnam's tuna exports to South Korea increased 2.4 times in the first half of the year

Published 2024년 8월 13일

Tridge summary

Vietnamese tuna exports to South Korea have seen a significant increase in June, reaching nearly $6 million, a sixfold increase compared to the same period last year. This growth is largely due to the price competitiveness of Vietnamese tuna and the efforts of exporters to understand the Korean seafood market. The Vietnam-South Korea Free Trade Agreement, which came into effect in December 2015, and South Korea's potential membership in the CPTPP are also contributing factors. Over 99% of Vietnam's total seafood exports to South Korea are processed tuna and canned products, with frozen steamed tuna loins being the most popular. Overall, Vietnam's seafood exports, including shrimp, pangasius, and tuna, have seen a slight increase of 6% in the first half of this year, generating $4.4 billion in revenue.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Tuna exports in June increased sixfold compared with the same period last year, reaching nearly $6 million. Industry insiders pointed out that this growth is largely due to the price competitiveness of Vietnamese tuna and the efforts of exporters to grasp the consumption trend of Korean seafood. The Vietnam-South Korea Free Trade Agreement, which came into effect in December 2015, has laid a solid foundation for strengthening economic, trade and investment cooperation between the two countries. Both countries are members of the Regional Comprehensive Economic Partnership (RCEP), and South Korea is also considering joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). South Korea's main Processed tuna and canned products purchased from Vietnam account for 99% of Vietnam's total seafood exports to South Korea. Among these products, frozen steamed tuna loins are the most popular. Experts said that due to the geographical proximity of the two ...
Source: Foodmate

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