"Japan Takes the Most"... Korean Seafood Sets All-Time Export Record

Ministry of Oceans and Fisheries Accelerates "Export-Promising Product Development Project"
K-Food Craze and Surge in Production Also Key Factors

Abalone (Photo to aid article understanding). Lotte Mart

As the Korean food (K-Food) craze continues to spread, exports of Korean abalone have reached an all-time high. Notably, the proportion of imports by Asian countries such as Japan and Vietnam has also increased.

According to export-import trade statistics from the Korea Customs Service released on October 6, the annual export volume of abalone last year was 2,954 tons, a 162.6% increase compared to 1,125 tons in 2015. Abalone exports have steadily grown, reaching 2,136 tons in 2021, 2,580 tons in 2022, and 2,825 tons in 2023.

Looking at the countries importing Korean abalone, Japan has been the largest importer since 2015, and recently, Vietnam has overtaken the United States to become the second-largest importer.

According to the Ministry of Oceans and Fisheries, the increase in abalone exports is due to the recent global spread of Korean food culture. Additionally, demand has risen in high-end Asian restaurants for Korean abalone, which is considered higher quality than Chinese abalone, as the popularity of health foods grows in the region.

Furthermore, recent improvements in abalone aquaculture technology have shortened the shipping cycle by about 30%, and the number of farms cultivating abalone has increased, leading to a surge in production. As production has increased and abalone prices have dropped, more farms are turning to exports.

The Ministry of Oceans and Fisheries is supporting the development, overseas expansion, and marketing costs of processed abalone products, such as "abalone cold sashimi soup," through the "Export-Promising Product Development Project," rather than exporting only raw abalone. The related budget has also increased from about 2.2 billion won this year to 4.2 billion won next year.

According to Yonhap News Agency, an official from the Ministry of Oceans and Fisheries stated, "By supporting the export of abalone and abalone-related food products, we will secure stable sales channels for abalone farms and promote Korean seafood to the world."