Recently, the prices of major seafood have surged due to a decrease in catch volumes. Changes in fishing grounds caused by climate change have led to reduced catches in coastal waters and migrations or changes in the distribution of certain species. The Ministry of Oceans and Fisheries is taking measures to respond, including developing a seafood supply and demand forecasting model.
According to the Korea Agricultural & Marine Products Distribution Corporation (aT) on the 3rd, the price of refrigerated squid caught in coastal waters as of the 28th of last month was 9,417 won per piece, up 21.2% compared to the same period last year and 27.2% from the average. The price of domestic refrigerated mackerel also rose to 4,653 won, an increase of 20.7% from a year ago. Dried anchovies were priced at 2,534 won per 100 grams, marking a 17.2% increase.
The primary reason for the rise in seafood prices is the decrease in catch volumes. According to the '2024 Fishing Production Trends Survey' released by Statistics Korea, the total fishing production last year was 3.61 million tons, which is a 2.2% decrease from the previous year. In particular, the catch volume in coastal waters was 841,000 tons, a 11.6% decline, hitting the lowest level since 1971 (764,000 tons).
The reduction in catch volumes is closely related to high sea temperatures. According to a study by the National Institute of Fisheries Science, the average surface temperature of coastal waters in South Korea last year was 18.74 degrees, the highest level in the last 57 years.
Due to high temperatures, the formation of fishing grounds has changed, resulting in reduced catches of squid, mackerel, and anchovies. The fishing ground for yellowtail has moved north from Jeju's coast, and crabs that were caught in the Yellow Sea are now being harvested in the East Sea, signifying significant changes in the existing fishing ground map.
The damage from climate change has also impacted aquaculture. According to the Ministry of Oceans and Fisheries, the damage from high sea temperatures in aquaculture last year was 143 billion won, the largest scale since related statistics began being compiled in 2012. Consequently, the prices of aquaculture species have skyrocketed. The Korea Maritime Institute (KMI) reported that in January this year, the wholesale prices of flounder and rock bass increased by 18.7% and 55.0%, respectively, compared to the same period last year.
The Ministry of Oceans and Fisheries is conducting research titled '2025 Marine Climate Change Monitoring and Prediction Information Integrated Production' to respond to climate change. A ministry official noted, "This is to analyze the impact of marine environmental changes on fishing more precisely and to provide predictive information to the fishing industry," adding that they plan to build a long-term marine climate prediction model by monitoring changes in temperature, currents, and salinity.
The Ministry of Oceans and Fisheries also plans to develop a supply and demand forecasting model to respond to supply instability of popular species and to reduce price volatility. A system will be established to comprehensively analyze production volumes, market prices, inventory levels, and export/import volumes for six items including mackerel, squid, hairtail, pollock, silver pomfret, and dried anchovies.
Measures will also be taken to reduce damage to aquaculture. The Ministry of Oceans and Fisheries is considering the introduction of a 'regional license transfer system' to develop and distribute aquaculture species that can survive in high temperatures and to allow aquaculturists to move to more suitable environments. This support will enable them to relocate to places better suited for aquaculture outside the existing permitted areas.