Yeosu, South Korea – A new variety of Korean laver, "Haetbadi 1," has set a record price of 1 million won per bundle (120kg), marking a new high for the seaweed. The surge in prices is attributed to the soaring global demand for Korean laver, solidifying its position as the "king of seafood" in the country.

The Jeollanam-do Marine and Fisheries Research Institute announced on Tuesday that the new variety, cultivated in the waters of Jindo, was sold at a record-breaking price at the Jindo auction market. This is the first time that raw laver has exceeded 1 million won per bundle.

"Haetbadi 1" is preferred by seasoning laver manufacturers due to its curly shape, texture, and taste. However, its cultivation has been challenging due to its short growth period and difficult seeding process. To address these challenges, the research institute developed "Haetbadi 1" by selecting superior laver strains from the Jeollanam-do waters.

The prices of other laver varieties have also increased this year. The average price of general laver is around 500,000 won per bundle, which is 200,000 won higher than last year.

The surge in laver prices is attributed to the global increase in demand, which has outpaced production. While laver was primarily consumed domestically in the past, exports have surpassed domestic consumption since 2021. In 2022, exports accounted for 56% of total laver production, and this figure further increased to 68% last year. As of late October, laver exports this year have already exceeded last year's record of 790 million US dollars.

To meet the growing demand and ensure stable production, the Jeollanam-do provincial government plans to expand aquaculture areas, develop offshore farms, develop new varieties resistant to climate change, and promote eco-friendly laver cultivation.

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