Jeju, South Korea: Anticipating benefits from China’s complete ban on Japanese seafood imports
Seafood
South Korea
Published Aug 28, 2023
Tridge summary
The Chinese government has announced a suspension of fishery imports from Japan, which could benefit seafood products from Jeju. Last year, Japan's seafood exports to China and Hong Kong accounted for 35.8% of their total exports, creating an opportunity for Jeju to fill this gap. Jeju is known for producing high-quality seafood products that are in demand in the Chinese market, and they could potentially replace Japan as a supplier.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
As the Chinese government announced a complete suspension of imports of fishery products from Japan, an analysis emerged that seafood products from Jeju could benefit. According to the Jeju branch of the Korea International Trade Association on the 27th, Japan's seafood exports to China and Hong Kong totaled 91.9 billion yen last year, accounting for 35.8% of Japan's total seafood exports of 257.6 billion yen. This is more than the 80 billion yen (KRW 730 billion) of the fisheries support fund accumulated by Japan. By item, ▲ 66.2% of molluscs such as scallops ▲ 12.1% of frozen fish such as cutlassfish, tilefish, and croaker ▲ 9.1% of fresh and refrigerated fish such as yellowtail and cutlassfish ▲ 7.8% of marine products such as sea cucumbers, sea urchins and jellyfish ▲ 1.9% of live fish. The Jeju branch of the Korea International Trade Association expects that Jeju will benefit from the scale and items of Japan's exports to China and Hong Kong last year. This is because ...
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