South Korea: Expansion of seafood exports requires a strategic approach
Seafood
South Korea
Market & Price Trends
Innovation & Technology
Published Mar 11, 2024
Tridge summary
The Korean Society of Fisheries Management has conducted a study suggesting strategies to boost Korea's seafood exports. The study recommends that low export concentration items such as seasoned seaweed, crab, and mackerel should focus on expanding in select countries, while high export concentration items like toothfish, cod, and pollack need a diversified export strategy due to trade balance risks. Medium export concentration items like tuna, oysters, and flounder require strategies based on each product's export status. The study underscores the importance of focusing on major export countries or redistributing export efforts to new target countries.
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
A study was conducted that analyzed the export concentration by route and item based on the export scale of Korea's major marine products. Through this, it appears that a strategy to expand seafood exports can be explored. The Korean Society of Fisheries Management recently published a research paper titled ‘Seafood Export Expansion Strategy - Focusing on Market Growth Performance and Size (Professor Kim Jin-baek, Business School of Dongmyeong University, Senior Research Fellow Kim Dae-young, Korea Maritime and Fisheries Development Institute).’ According to the paper, among Korea's top 10 exported marine products (top annual average export items from 2018 to 2022), items with low export concentration were seasoned seaweed, crab, and mackerel, items with high export concentration were toothfish, cod, and pollack, and items with medium export concentration were tuna. , oysters, and flounder. Through the paper, the researchers said that for items with low export ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.