Trade Risks from Trump... Ministry of Oceans and Fisheries Accelerates Export Market Diversification

Expansion of Policy Fund Loans for Export Companies
Fostering and Adding Value to Next-Generation Promising Items such as Oysters and Abalone

The Ministry of Oceans and Fisheries is diversifying export markets for seafood products in response to the protectionist trade policies of the second Trump administration in the United States. It plans to expand the operation of a dedicated non-tariff barrier response center for export regulations, newly launch a 'Non-Tariff Barrier Platform,' and increase loan support for export companies' policy funds.

On the 18th, the Ministry announced the '2025 Seafood Export Strategy' at the 6th Export Strategy Meeting. The goal is to achieve a record-high seafood export value of $3.15 billion this year and nurture 70 export companies with exports exceeding $10 million.

In particular, this strategy focuses on proactively responding to the anticipated imposition of universal tariffs and strengthening of non-tariff barriers following the inauguration of the second Trump administration, as well as enhancing the global competitiveness of Korean seafood products through the development of high value-added seafood and the establishment of large-scale infrastructure.

First, to reduce liquidity burdens on companies, the Ministry decided to allocate 148.9 billion KRW for export companies' policy fund loans (Excellent Seafood Support), which is 16.5 billion KRW more than the previous year. Additionally, the support limits for joint logistics centers will be increased to 40 million KRW (up 10 million KRW) overseas and 60 million KRW (up 40 million KRW) domestically. Four additional local bases for overseas joint logistics centers will be established in New Jersey, New York, LA, etc., expanding the total to 76 locations.

Furthermore, the Ministry will expand the operation of the dedicated non-tariff barrier response center for export regulations and newly open the 'Non-Tariff Barrier Platform.' Through this platform, it will provide the latest information on non-tariff barriers by country and product, integrated search services for major countries' food safety standards, and an archive of past non-tariff related regulatory changes.

In preparation for strengthened import regulations under the 'Marine Mammal Protection Act (MMPA)' and the 'Food Safety Modernization Act (FSMA),' which are scheduled to be implemented next year, the Ministry plans to establish a response system including the issuance of export permits and certificates, and build a seafood export traceability information management system.

By expanding export insurance and voucher support, the Ministry will also strengthen the trade risk response capabilities of small and medium export companies against exchange rate fluctuations and trade disputes. First, based on a comprehensive plan covering the entire production, processing, and export cycle of gim (seaweed), the top export strategic item, it aims to solidify leadership in the global market through stable production support. To this end, it will promote ▲ development of new varieties resistant to high water temperatures ▲ introduction of a dried gim grading system ▲ establishment of an international gim exchange ▲ expansion of the K-GIM brand. For tuna, the second top export item, market expansion will be pursued through high value-added strategies such as developing sashimi fillets and premium processed tuna, and supporting acquisition of international certifications.

To actively target the global market with next-generation promising items such as oysters, the Ministry plans to focus on developing processed products like smoked oysters and oyster gambas for emerging markets in Europe, the Middle East, and ASEAN.

Efforts will also be accelerated to establish a foundation for expanding seafood product exports. Specialized export complexes for seaweed in Jeonnam and R&D-specialized export complexes in Busan will be developed, and 'Smart Processing Complexes' will be built in Jeonbuk and Gyeongbuk to promote regional industrial agglomeration. Additionally, by introducing IoT and AI-based smart processing technologies, a high-quality seafood production system with competitiveness will be established.

Kang Do-hyung, Minister of Oceans and Fisheries, stated, "We will proactively respond to changes in trade policies such as the strengthening of non-tariff barriers by the new U.S. administration to minimize uncertainties in seafood exports."

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