The export value of domestically produced Korean seaweed is expected to exceed $1 billion (approximately 1.4 trillion KRW) for the first time this year. According to the Korea Agro-Fisheries & Food Trade Corporation’s (aT) agricultural and food export information, the seaweed export value reached $882.33 million (1.2572 trillion KRW) by the third quarter of this year, marking an approximately 14% increase from the same period last year ($773.66 million or 1.1023 trillion KRW).
This is four times the amount from ten years ago, during the first to third quarters of 2015, which was $222.25 million. Last year, the seaweed export value was $997 million, and at the current rate, it is expected to surpass $1 billion. The Ministry of Oceans and Fisheries (MOF) had set a goal to achieve $1 billion by 2027.
By country, Japan has the highest export value at $189.75 million, followed by the United States with $183.25 million, China ($89.20 million), and Thailand ($82.98 million). Exports to China increased by 41.4% compared to the same period last year, while exports to Japan and the United States rose by 18.4% and 14.2%, respectively.
An MOF official mentioned that the steady increase in seaweed exports is due to the K-food trend, stating, “With tariffs set at 15%, if companies raise seaweed prices, local consumption might decrease; however, it is still expected to easily surpass $1 billion.”
The MOF is also working on international standardization for branding Korean seaweed, including its name and export specifications. Currently, in the international market, Korean seaweed is referred to by the Japanese names “Nori” or “Seaweed.” The MOF plans to standardize the name as “GIM” to establish Korean seaweed as a single brand.
In August, the MOF submitted a proposal for seaweed standardization to the Codex Alimentarius Commission, jointly established by the Food and Agriculture Organization (FAO) and the World Health Organization (WHO). The committee is set to review the proposal later this month.
If the committee approves the decision, Korea will undertake practical work over the next 6 to 7 years to prove the stability of Korean seaweed ingredients and standardize its name and other specifications.