Last year, the production, output value, and export volume of the distant-water fisheries industry increased. However, the export value decreased due to a drop in the export price of tuna species. The industry’s overall revenue and operating and net profits improved, indicating enhanced profitability.
According to the Ministry of Oceans and Fisheries on the 28th, the production volume of distant-water fisheries last year was 479,000 tons, a 16.8% increase from the previous year.
During the same period, the production value rose by 38.7% to 1.5258 trillion won, and the export volume increased by 18.3% to 202,000 tons compared to the previous year.
However, with a decrease in the export unit price of tuna species, the export value ended up at 528.5 billion won, a decrease from 537 billion won the previous year.
By fish type, except for tuna, toothfish, and Antarctic krill, the production volume and value increased for most fish species compared to the previous year.
Notably, while the production of coastal and offshore squid significantly decreased, the production of distant-water squid greatly increased, helping to alleviate the squid supply imbalance domestically and stabilize prices.
Last year’s total revenue for the domestic distant-water industry totaled 5.3204 trillion won, a 6.5% increase from the previous year. During the same period, operating income and net income also increased by 48.9% and 34.9%, respectively, improving profitability. The debt ratio also decreased compared to the previous year.
Hong Rae-hyeong, director of the Fisheries Policy Office at the Ministry of Oceans and Fisheries, stated, “Despite the challenging conditions such as resource depletion due to climate change and strengthened international regulations, fostering the distant-water industry is essential to establish a flexible seafood supply system,” and added, “We will focus on policy development to enhance the competitiveness and sustainable growth of the distant-water industry.”