Last year, the export value of seafood products exceeded $3 billion once again. It achieved a $3 billion export value for three consecutive years since 2022. The representative export item, seaweed, achieved the highest export value ever. Tuna exports also showed a favorable trend, nearing the milestone of $600 million.
According to the Ministry of Oceans and Fisheries, which announced the 2024 seafood export trends on the 16th, the total export value of seafood products last year recorded $3.03 billion, a 1.2% increase compared to the previous year. The Ministry assessed that this result was achieved due to the efforts of the seafood industry amid an uncertain trade environment marked by global economic recession and fluctuations in seafood supply and demand due to climate change.
Last year's seafood export performance was driven by seaweed, known as 'the semiconductor of the sea,' and tuna, a key item in distant-water fisheries. The export value of seaweed recorded $997 million, a 25.8% increase compared to the previous year. Tuna recorded $589 million, up 4.7% from the previous year.
The main export countries for seafood products last year were Japan and the United States. The export value to Japan was $6.59 billion, an increase of 3.4% compared to the previous year. The export value to the United States reached $4.28 billion, marking an 11.7% increase. Exports to Europe also showed potential for market expansion, recording $227 million, a 16.4% increase from the previous year.
The Ministry analyzed that the support policy for exporting corporations played a significant role in expanding seafood exports. Last year, the Ministry provided loans of 132.4 billion won to ensure the management stability of excellent exporting corporations, covering necessary funds for raw material purchases, product storage, and processing operations. Additionally, through a $7.7 billion export voucher support project, up to 220 million won was given to each corporation.
The Ministry aims to achieve the highest export value ever this year by implementing supportive policies. Starting in May, it will operate a 'non-tariff barrier platform' to adapt flexibly to the rapidly changing trade environment, including protectionism. It will support domestic seafood exporting corporations' entry into the European market centered around the trade support center opened in France last November. The number of regional fairs in Spain and France will increase from three to six, and the K-Fair, co-hosted with relevant ministries, will expand from one to three.
Minister Kang Do-hyung said, 'This year, in addition to seaweed and tuna, we will strategically develop items such as oysters and abalone as export products,' and added, 'We will actively lead the growth of the K-seafood export industry by expanding into the European market.'