S. Korea's fishery goods exports drop 7.4% in 2020

South Korea's fishery goods exports plunged 7.4 percent from $2.5 billion in 2019 to $2.32 billion in 2020, says the Ministry of Oceans and Fisheries.

Exports of ready-to-eat products, such as processed fish and seaweed products, advanced 8.1 and 3.8 percent over the cited period.

Seaweed exports surpassed the $600 million mark for the first time.

However, demand for raw products, such as tuna, which are mostly consumed at restaurants, waned as people worldwide refrained from dining out due to social distancing schemes.

Shipments to the US increased 6.6 percent on-year in 2020, but those to other countries slipped, with those to China dropping 15.2 percent, Thailand falling 14.8 percent, and Japan plunging 9.8 percent.

The Ministry of Oceans and Fisheries is seeking to boost fishery goods exports by 7.8 percent to reach $25 billion this year.

South Korea plans to promote local fishery goods at major global online retailers, such as the US-based Amazon.