Seoul, South Korea – South Korea's seafood exports reached a new high in 2023, surpassing $3 billion for the first time. Kimchi, often referred to as the "black semiconductor" due to its economic significance, played a pivotal role in this achievement, recording nearly $1 billion in exports for the second consecutive year.
According to data released by the Ministry of Oceans and Fisheries on Friday, the total value of seafood exports in 2023 was $3.035 billion, a 1.2% increase from the previous year.
Kimchi, a type of fermented seaweed, topped the list of exported seafood products, with a value of $997 million, representing a 25.8% increase compared to the previous year. Tuna followed closely, with exports valued at $589 million, a 4.7% increase from 2022. 1 Mackerel, saury, and oysters rounded out the top five.
Japan remained the largest market for South Korea's seafood exports, with purchases totaling $659 million. China and the United States followed, with exports of $530 million and $479 million, respectively. Exports to Europe also saw a significant increase of 16.4%, reaching $227 million in 2023.
To further bolster the competitiveness of South Korean seafood companies in a challenging global trade environment, the Ministry of Oceans and Fisheries plans to launch a "non-tariff barriers platform" in May. Minister Kang Do-hyung expressed his intention to strategically cultivate oysters and abalone as additional export products, alongside kimchi and tuna.
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