Is it difficult to find Russian snow crab and pollack in South Korea?

Published 2022년 3월 7일

Tridge summary

South Korean retailers are seeking alternative suppliers for aquatic products as they depend on Russia for over 20% of their supply. The reliance is particularly high with crabs, pollock, and cod. In response, retailers like Homeplus and Lotte Mart are looking towards Canada and Norway as possible alternative production sites. Despite Russia contributing only 2.8% to South Korea's total imports, efforts are being made to find alternatives due to the item's high dependence.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Among the 118 domestic imported items that depend on Russia for more than 20%, the dependence on aquatic products such as pollock and snow crab is particularly high. Considering the situation in which the international community's sanctions against Russia are in full swing, it is pointed out that it is urgent to prepare alternative products because of concerns about damage to the supply chain. Jung Hyung-gon, a senior research fellow at the Korea Institute for International Economic Policy (KIEP), a national research institute, recently analyzed 2,075 items ($17.35 billion) imported from Russia last year based on the customs clearance code (HS10). There were 118 imported items, of which 62 were over 50% dependent. In addition, 62 items, including energy, metals, and aquatic products, accounted for more than 50% of imports from Russia. The dependence on imported aquatic products was overwhelmingly high, with mostly crabs accounting for 100%, pollack 96.1%, cod 93.6%, ...
Source: Susantimes

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