Seo Samseok Proposes Measures in Response to Drop in Mulkim Prices

Discarded at Sea After Failing to Sell at Auction in Some Regions
"Add to Stockpiling Project and Introduce Supply Stabilization System"

Assemblyman Seo Samsuk.

As global interest in gim continues to rise, concerns have been raised that cases of raw gim, which failed to sell at auction, are being discarded back into the sea, potentially disrupting future production.

Seo Samseok, a member of the Democratic Party of Korea (representing Yeongam, Muan, and Shinan in Jeonnam), announced on the 21st that he had submitted a “Proposal for Countermeasures Against the Decline in Raw Gim Prices” to the Minister of Oceans and Fisheries.

Gim, the leading export item among seafood products, recorded an export value of $997 million (approximately 1.3 trillion KRW) last year, marking a 25.8% increase compared to the previous year and surpassing 1 trillion KRW for the second consecutive year. In response, the government announced the “Plan to Strengthen the Competitiveness of the Gim Industry” last October and expanded aquaculture farm areas to secure more raw gim for export.

However, the price of raw gim has dropped significantly. According to data published by the Korea Maritime Institute (KMI), the production volume of raw gim this year reached 34.67 million sok, a 62% increase over the average year, but the average price per kilogram in December last year fell 50.9% to 2,254 KRW from 4,591 KRW the previous month. In Jeonnam, there have been cases where unsold raw gim was discarded back into the sea.

In Haenam-gun, the local government is implementing a “Raw Gim Shipment Adjustment Support Project,” providing up to 40,000 KRW per sack (120kg) for raw gim that fails to sell at auction through the Haenam Fisheries Cooperative. However, this support is insufficient compared to production costs and is limited to only one occurrence, indicating a need for improvement.

In his proposal to the Ministry of Oceans and Fisheries, Seo suggested adding major aquaculture products such as gim to the “stockpiling project” and establishing a supply stabilization system that provides financial support in cases of overproduction.

Seo stated, “While the government is self-congratulatory over surpassing 1 trillion KRW in gim exports, in reality, there are cases where unsold raw gim is being discarded at sea,” and pointed out, “If the decline in raw gim prices is left unaddressed, it could affect both production and exports.”

Seo further emphasized, “As global demand for gim increases, systematic management from the harvesting stage is necessary,” and added, “In addition to stockpiling major export items such as gim, abalone, and oysters, there is a need to approach supply stabilization systems?currently implemented at the local government level?from a whole-of-government perspective.”

Meanwhile, Seo previously proposed an amendment to the “Act on Distribution and Price Stabilization of Agricultural and Fishery Products” immediately after the opening of the 22nd National Assembly last June, to guarantee a minimum price for gim based on target and reference prices.

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