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South Korea has a rich seafood culture that permeates its cuisine, given that it is encircled by water on three sides. Yellow croaker (jogi), hairtail (galchi), and mackerel (godeungeo) are just a few of the seafood options available in South Korea. Common cooking techniques are braising and grilling.
South Korea offers a variety of oyster consumption options, such as eating them raw with hot gochujang (red chilli paste) and in stews. Eating live octopus is the centrepiece of the unusual Korean dish known as sangnakji.
It is usually presented on the plate sliced and still in motion. Seafood is a key component of South Korean cuisine, which frequently stresses the use of seasonal, fresh ingredients.
The South Korea seafood market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
Unlimeat of South Korea is a newcomer to the growing alt-seafood market, offering recycled plant-based tuna. There are numerous violations of human rights and the environment in the seafood industry.
Additionally, rising greenhouse gas emissions are a result of the growing demand for seafood, and the climate crisis is further exacerbated by the extensive fuel use of ocean fishing vessels. In addition, the industry is plagued by child and forced labour, and its issues are made worse by the usage of plastic packaging and the existence of microplastics in the ocean.
The food chain is disturbed by overfishing. Additionally, other species will overpopulate when populations decline, destroying biodiversity and altering the ecosystem as a whole. After all, eating fish still devastates the environment.
It has prompted more investment and the creation of new products in the vegan seafood market, like Unlimeat’s plant-based tuna. While meat is a more well-established category, alternative seafood is relatively new and not well-known. Seafood is less concerned with health than it is with sustainability.
In 2022, the value of Korean seafood imports was $6.47 billion, a 12.7 percent increase from the previous year. The amount of seafood imported into Korea for human consumption from the US in 2022 was $229 million, up 5.6% over the previous year.
With a 3.5 percent market share, the US is still Korea’s fifth-largest seafood exporter. Although regional competitors frequently offer lower pricing, Korean consumers generally view U.S. fisheries products as high-quality and unpolluted.
The government intends to maintain price stability amidst elevated inflationary pressures by augmenting the supply of marine items such as cuttlefish and mackerel.
A select group of large corporations control the majority of the processed seafood market in South Korea: Dongwon F&B Co., Ltd., CJ CheilJedang Corporation, and Sajo Daerim Corporation. Dongwon, Daerim, and CJ are among the leading brands in the processed fish industry.
In the fish and fish products industry, South Korea saw a consistent amount of new product releases between 2018 and 2022. Convenience was the primary promise for the top five product launch categories, which included processed fish, meat and egg products, meals and meal centres, snacks, sauces and seasonings, and soup.
The Jeju Haenyeo Fisheries System was named a Globally Important Agricultural Heritage System (GIAHS) as part of the programme run by the Food and Agricultural Organisation (FAO).
This announcement was made by Minister Cho Seung Hwan of the Ministry of Oceans and Fisheries. In order to gather seafood, Jeju Haenyeo fishermen dive into the water without the use of any mechanical gear.
