South Korea: The Ministry of Oceans and Fisheries is on the chopping block for ignoring the announcement of seaweed export results to Japan

Published Jun 14, 2024

Tridge summary

The Ministry of Oceans and Fisheries in South Korea is facing criticism for its lack of response to rising seaweed prices, despite the country achieving record exports to Japan at the '2024 Korea Seaweed Export Bidding and Consultation Meeting'. The Korea Fisheries Trade Association, responsible for exporting Korean seaweed to Japan, failed to announce the final results of the meeting, sparking suspicions of interference from the ministry. The ministry's inaction and surprise at the record exports have led to a loss of trust in its seaweed industry policy and its ability to stabilize supply and demand.

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

Original content

If the domestic market expands, the status of K-seafood exports will inevitably fall. Even though the Ministry of Oceans and Fisheries achieved the largest ever performance at the ‘2024 Korea Seaweed Export Bidding and Consultation Meeting to Japan’ last May, it is being criticized for remaining ignorant. Summarizing our coverage, the Korea Fisheries Trade Association recently held a ‘2024 Korea-Japan export bidding and consultation meeting’ at the aT Center in Yangjae-dong, Seoul in collaboration with a Japanese seaweed organization. At this event, 11.41 million items including dried seaweed, unsweetened seasoned seaweed, seaweed products, etc., were exhibited by Korean companies. It was confirmed that a great success was achieved by signing an export contract worth 183.8 billion won. The export performance signed this year is a whopping 78.8 billion won more than last year, which is the highest record ever. The problem is that, despite these export achievements, the Ministry ...

Source: Susantimes