South Korea: A full-cycle development plan to succeed in cultivating farmed marine products

In order to quickly respond to changes in the external environment surrounding farmed marine products, a full-cycle development plan for key farmed marine products has been established. The strategy is to secure international competitiveness by growing farmed seafood to be consumed more and more frequently. The four core products selected by the Ministry of Oceans and Fisheries are seaweed, oysters, abalone, and flounder. For these items, the plan is to focus on increasing consumption and exports and support the entire cycle from production to distribution and export. Seaweed, which exported $790 million last year and established itself as an export product with the largest market share in the world, plans to exceed $1 billion in exports by 2030. For oysters, exports of premium oysters will be expanded by increasing the proportion of individual oysters (oysters sold in shells), which are preferred by American and European consumers, to 30% by 2030 (currently 1%), and domestically ...