South Korea: Expansion of seafood exports requires a strategic approach

Published 2024년 3월 11일

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.

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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 ...

Source: Fisheco