Garak Market Last Year Seafood Category Transaction Volume 89,000 Tons, Transaction Amount 528.1 Billion Won
Seoul Agro-Fisheries & Food Corporation Announces 2021 Garak Market Seafood Transactions... 1.7% Decrease in Volume and 2.8% Decrease in Value Compared to Previous Year... Various Measures Including COVID-19 Recovery and Transaction System Improvements with Distributors to Enhance Seafood Market Competitiveness and Revitalization
[Asia Economy Reporter Park Jong-il] The Seoul Agro-Fisheries & Food Corporation (President Moon Young-pyo) announced the analysis results of the 2021 Garak Market seafood category transaction performance. The transaction volume was 89,000 tons, a 1.7% decrease compared to the previous year, and the transaction amount was 528.1 billion KRW, a 2.8% decrease compared to the previous year.
Although South Korea's seafood production volume and per capita annual consumption (as of 2020) increased by 19.4% (3.713 million tons) and 30.1% (66.6 kg) respectively over the past decade, seafood passing through consumer wholesale markets has gradually decreased. The market share of nationwide seafood wholesale markets (19 locations) is only 6.8%.
The transaction volumes at Seoul Noryangjin Fish Market and Guri Market were 54,000 tons and 26,000 tons respectively, decreasing by 0.7% and 5.3% compared to the previous year.
Meanwhile, the external distribution environment is rapidly changing due to the increase in direct transactions such as e-commerce and new smart consumption tendencies. As a result, traditional wholesale markets are gradually losing competitiveness, making it inevitable to seek new and diverse methods.
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Accordingly, the corporation plans to create a seafood market that customers will revisit to secure and revitalize the competitiveness of wholesale markets. Based on communication and empathy, it will closely cooperate with distributors, overcome the difficulties caused by COVID-19, modernize facilities, improve the efficiency of distribution logistics systems, diversify transaction systems to expand shippers' choices, and faithfully fulfill the functions and roles of public wholesale markets to protect producers and consumers.
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