Korea's dried seaweed exports hit $540.68M

Seasoned dried seaweed products on display at a discount store in Seoul in Nov. 2019 [YONHAP]

Korea's exports of dried seaweed, or gim, grew 16 percent on-year during the first eight months of 2023 on solid overseas demand, in line with the popularity of Korean food and culture, the oceans ministry said Tuesday.

Outbound shipments of gim came to $540.68 million in the January-August period, up from $466.1 million from a year earlier, according to the data from the Ministry of Oceans and Fisheries.

In terms of volume, the country sold 24,862 tons of gim products during the cited period, up 16.4 percent from a year earlier.

Dried seaweed is usually roasted with sesame oil and fine salt and served as a side dish in Korean dining. Snacks made of gim have gained popularity among foreigners in recent years.

Gim is the No. 1 export item among Korean fishery products, and the country's dried seaweed accounts for around 70 percent of the total global market.

Last year, the country exported 30,470 tons of gim products, the largest volume ever, though the value fell slightly to $647.55 million from the previous year's $692.91 million, a record high.

The United States, China and Japan are major export destinations, the ministry said.

In the face of heated global competition, the government put forth a set of supportive measures with the goal of boosting global gim sales to $1 billion by 2027.

Under the five-year plan, the government will expand research and development projects for new seeds that can adjust well to rising water temperatures and for various high-quality products.

Yonhap