Chungnam's Seafood Processing Industry Approaches Annual Production Value of 1 Trillion Won

[Asia Economy (Hongseong) Reporter Jeong Il-woong] The seafood processed food industry in the Chungnam region is on the verge of achieving an annual production value of 1 trillion won.

According to Chungnam Province and Statistics Korea (Seafood Processing Industry Statistics) on the 19th, the total value of seafood processed foods produced in Chungnam last year was 853.8 billion won, an increase of 297.1 billion won compared to the previous year.

In particular, the seafood industry in Chungnam showed an average annual production increase rate of 51% over the past three years, with 281.1 billion won in 2018, 556.8 billion won in 2019, and continuing through last year.

On the other hand, the nationwide production value of seafood processed foods last year recorded 6.22 trillion won, showing only a 2.58% increase compared to the previous year.

Based on this, Chungnam rose two ranks from 5th place to 3rd place nationwide in seafood processed food production value last year.

The province expects that if this trend continues through this year, the total production value of seafood processed foods could exceed 1 trillion won by the end of the year.

Among the production values by item, the largest share was undoubtedly held by ‘seasoned laver and other seafood processed foods.’

Other seafood processed foods recorded a production value of 549.4 billion won last year, accounting for 64.3% of the total. This was followed by dried laver and other seaweed products at 157.1 billion won (18.4%), salted seafood (jeomshin products) at 51 billion won (6%), and fish cakes and other processed fish products at 47.6 billion won (5.6%).

Along with the growing scale of seafood processed food production, Chungnam is also increasing its export value.

In fact, the export value of local seafood processed foods has shown a steep upward trend, with $3.634 million in 2000, $5.875 million in 2005, $19.007 million in 2010, $56.692 million in 2015, and $94.523 million in 2019.

Seasoned laver and other seafood processed foods are considered Chungnam’s main export items and played a key role in Chungnam surpassing $100 million in seafood processed food exports for the first time last year. This growth is particularly meaningful as it was achieved amid the COVID-19 pandemic.

Thanks to the favorable production and export of seafood processed foods, the number of seafood processing companies in Chungnam increased to a total of 318 last year, up by 68 companies from the previous year, and the number of employees rose to 3,526, an increase of 1,274 compared to the previous year.

The province cites the expansion of infrastructure such as production facilities and hub complexes in production areas, investment, and strengthened policies to promote consumption and exports as factors contributing to the increase in local seafood processed food production value.

Cho Won-gap, Director of the Marine and Fisheries Bureau of Chungnam Province, said, “The seafood processing industry contributes to increasing fishermen’s income by turning various raw seafood produced locally into high value-added processed products and supplying them to demand markets. According to the ‘Chungnam Seafood Distribution, Processing, and Export Promotion Plan’ declared last December, the province plans to further expand the seafood processing industry infrastructure by creating a large-scale seafood food cluster.”

Meanwhile, seafood processing industry statistics are designated statistics by Statistics Korea. Local governments survey the previous year’s seafood processed food production value and volume, number of companies, and number of employees from January to March every year, and after verification by the Ministry of Oceans and Fisheries, the results are finalized and announced between June and July.

This content was produced with the assistance of AI translation services.