South Korea: Seafood exports reached $2.8 billion last year

Published Jan 10, 2022

Tridge summary

In 2021, South Korea's agricultural and fishery product exports reached $10 billion for the first time, with a total export value of $11.36 billion, a 15.1% increase from the previous year. This growth was led by a 12.9% increase in food and agricultural exports, and a 22.4% increase in aquatic food exports. The country saw a rise in exports of various seafood products to 114 countries, including countries where Korean seaweed had not been exported before, due to the spread of the Korean Wave. Notable increases were seen in the exports of seaweed, tuna, fish cakes, oysters, and halibut. The growth in the seaweed sector was driven by high value-added products and marketing strategies, while the demand for tuna and oysters increased in countries like Japan, France, and Italy. The government supports the efforts of producers, processing, and exporters and plans to strengthen export support policies for seafood companies.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Exports of agricultural and fishery products in 2021 reached $10 billion for the first time ever. According to the Ministry of Oceans and Fisheries and the Ministry of Agriculture, Food and Rural Affairs, the amount of export of agricultural and fishery products last year was $11.36 billion, up 15.1% from the previous year. Food for agriculture, forestry and livestock was $8.54 billion and aquatic food was $2.82 billion, up 12.9% and 22.4% from the previous year, respectively. In the case of the aquatic food sector, compared to the previous year, exports of various items such as fish cakes, oysters, and halibut, in addition to the main items such as laver and tuna, increased. Seaweed $692.8 million (15.4%↑), tuna $579.2 million (9.7↑), fish cake $49.5 million (9.7↑), oyster $80.1 million (12.0↑), halibut $55 million (27.6↑) etc. Among them, seaweed, the number one export item among aquatic products, has been renewing its export value every year for over 10 years. In the case of ...

Source: Fisheco