Last year, the production volume, production value, and export volume of distant-water fishing increased. However, due to the decline in the export price of tuna species, the export value decreased. Last year, the distant-water fishing industry saw increases in revenue, operating profit, and net profit, leading to improved profitability.
According to the Ministry of Oceans and Fisheries, the production volume of distant-water fishing last year was 479,000 tons, a 16.8% increase from the previous year.
During the same period, the production value increased by 38.7% compared to the previous year, reaching 1.5258 trillion won, and the export volume was recorded at 202,000 tons, an 18.3% increase from the previous year.
However, as the export price of tuna species fell, the export value recorded a decrease from the previous year (53.7 billion won) to 52.85 billion won.
By species, production volume and production value increased for most species, excluding bigeye tuna, toothfish, and Antarctic krill, compared to the previous year.
In particular, while the production volume of coastal squid significantly decreased, the production volume of distant-water squid increased sharply, contributing to the resolution of the imbalance in domestic squid supply and demand and stabilizing prices.
Last year, the total revenue of the domestic distant-water fishing industry was 5.3204 trillion won, a 6.5% increase compared to the previous year. During the same period, operating profit and net profit also increased by 48.9% and 34.9%, respectively, indicating improved profitability. The liability ratio also fell compared to the previous year.
Hong Rae-hyung, head of the Fisheries Policy Office at the Ministry of Oceans and Fisheries, noted, "Even under difficult conditions such as resource reduction due to climate change and strengthened international regulations, fostering the distant-water industry is essential for establishing a resilient seafood supply system," and added, "I will work on developing policies to strengthen the competitiveness of the distant-water industry and ensure sustainable growth."