6000t Abandoned at Sea... 'Geum Kim' Price Declines After 3 Months

Dried Gim Price Drops for the First Time in Over a Year
Still 25 Percent Higher Than Last Year
Production Surges but Processing Bottlenecks Lead to Waste
Ministry Reports Stabilized Prices After Crackdown on Illegal Farming

The price of Gim has turned downward for the first time in 1 year and 1 month.

According to the Korea Agro-Fisheries & Food Trade Corporation's data on the 4th, the average retail price of dried Gim (medium grade) for 10 sheets was 1,400 won as of the 28th of last month, down 27 won from a week earlier and 76 won lower than the previous month. However, it is still 25% higher than last year (1,119 won) and 49% more expensive than the average year (937 won).

The monthly average price of dried Gim rose continuously for 12 months from 136 won in January last year to 1,470 won in January this year, before falling to 1,438 won last month, marking a decline for the first time in 13 months.

Yonhap News

As dried Gim prices soared last year, manufacturers such as Dongwon F&B and CJ CheilJedang simultaneously raised the prices of seasoned Gim.

Currently, the price of dried Gim appears to have peaked and is declining. In January, the price per sheet rose to 150 won, 50 won higher than a year ago, but it has now dropped to around 140 won per sheet. Looking at the price trend of dried Gim last month, it rose to 1,476 won in the early part of the month, then fell to 1,434 won mid-month, and further dropped to 1,408 won by the end of the month.

Meanwhile, due to sustained water temperatures suitable for Gim farming and an expansion of farming areas, the production of 2025 water Gim surged sharply. However, processing plants were unable to handle the water Gim, causing prices to plummet and 6,000 tons were discarded into the sea. The Ministry of Oceans and Fisheries stated that since measures such as crackdowns on illegal Gim farming were implemented, no water Gim has been discarded since last month, and the prices at water Gim production sites have stabilized to last year’s levels.

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