News

“Increasing the size of the Gyeongnam seafood industry to 1 trillion won.”

Seafood
Market & Price Trends
Innovation & Technology
Published Apr 17, 2024

Tridge summary

Gyeongnam Province in South Korea has unveiled the '2030 Gyeongnam Fisheries Food Industry Development Plan' to elevate its seafood industry to a value of 1 trillion won by 2030, marking a 71% increase from its current size. With an investment of 270.2 billion won from national, local, and private sources, the plan aims to restructure the industry, boost exports, and innovate new products. Initiatives include establishing a seafood cluster in Tongyeong, automating processing plants, and focusing on oysters as a key export product. Despite being a leading fisheries region, Gyeongnam faces challenges such as the absence of a flagship seafood product and the predominance of small-scale companies. The plan also emphasizes aggressive marketing and export strategies to penetrate new international markets, with the Affairs and Fisheries Bureau providing comprehensive support to meet these ambitious goals.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Gyeongnam Province will invest 270.2 billion won by 2030 to foster the seafood industry through the ‘2030 Gyeongnam Fisheries Food Industry Development Plan’, raising the size of the Gyeongnam seafood industry to 1 trillion won. Gyeongnam Province announced on the 15th the ‘2030 Gyeongnam Fishery Food Industry Development Plan’, a mid- to long-term roadmap to develop the seafood industry into a new growth industry in Gyeongnam. The size of the seafood industry in Gyeongnam is approximately 583.2 billion won. It remains in fourth place nationwide, following Jeonnam at KRW 1.8772 trillion, Busan at KRW 1.725 trillion, and Gyeonggi at KRW 823.9 billion. Accordingly, Gyeongnam Province proposed a goal of increasing the scale of the seafood industry to 1 trillion won by 2030, a 71% growth, and doubling the number of companies exporting $10 million in seafood from 6 to 12 by 2030. Under the vision of ‘making the seafood industry a new growth industry in Gyeongnam,’ Gyeongnam Province ...
Source: Agrinet
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