South Korea Market Overview
Population
51.7 million
GDP (2021)
USD 1.8 trillion
Per Capita GDP
SD 34,757.7
GDP Growth
4%
Source: World Bank 2021 (https://data.worldbank.org/)
South Korea
The following information is a snapshot in time to give you a general overview of South Korea’s top importing products. This information is sourced from FAO Globefish market profile for South Korea (2020). Some of this information may change from time to time, therefore we encourage you to go directly to FAO Globefish for the most up-to-date information.
Imports – Top 10 Products (Value)
1
Fish, other than species in 0303
frozen; excluding fillets, livers and roes
(HS 0303.89)
USD 464 320 670
2
Shrimps, prawns
frozen
(HS 0306.17)
USD 441 702 330
3
Crabs
live, fresh or chilled
(HS 0306.33)
USD 410 734 080
4
Squid, cuttlefish
frozen
(HS 0307.43)
USD 349 850 420
5
Octopus
Frozen
(HS 0307.52)
USD 349 331 710
6
Fish
live
(HS 0301.99)
USD 255 748 800
7
Fish, other than species in 0304
frozen meat; excluding fillets, livers and roes
(HS 0304.99)
USD 251 694 340
8
Atlantic, Danube salmon
fresh or chilled; excluding fillets, livers and roes
(HS 0302.14)
USD 227 199 270
9
Alaska Pollack
frozen; excluding fillets, livers and roes
(HS 0303.67)
USD 195 227 390
10
Crabs
frozen
(HS 0306.14 )
USD 147 888 200
Source: FAO Globefish Market Profile for South Korea – 2020 (https://www.fao.org/in-action/globefish/countries/en/)
Globefish provides information and analysis for global trade in fish and fish products. Search for information about the size of the market, the top imported product and formats as well as other important market information. The information here is a snapshot from 2020 – check the link for more recent information.
FRDC Trade Database
Australian Exports to South Korea
This database provides a wealth of seafood exporting and importing information with the ability to look at seafood production and trade data.
The database allows you to filter the data by year, export market destination and species. You also have the option to look at the data by seafood trade value or volume.
The FRDC database sources information from the Australian Bureau of Statistics.
Find seafood production and trade data for your products and markets
Seafood Specific Information
Micor Importing Requirements
Micor (Fish) sets out the know importing country requirements, which differ from or are additional to Australian export conditions and which must be met to gain market access.
Seafood Export Program Report
The latest summary report from the Australian Government on registrations, export shipments and markets, exports by product, and exports.
South Korea Market Summary & Category Data for Fish & Seafood (Barramundi)
South Korea Market Summary & Category Data for Fish & Seafood (Lobster)
South Korea Market Summary & Category Data for Fish & Seafood (Prawns)
Korea Market Insights: Imported Lobster 2021
Abalone in South Korea
Generic information about exporting to South Korea
Austrade Export Market Profile
To view a market profile that outlines information on doing business with Korea, news and insights, events, and information about visiting Korea.
Free Trade Agreement
The Korea-Australia Free Trade Agreement (KAFTA) entered into force on 12 December 2014.
DFAT South Korea Brief
Information about the land, people, history, government, political conditions, economy and foreign relations.
Relevant South Korea Based Authorities
Korea Customs Service
Invest Korea
Korea Importers Association
Korea Institute for International Economic Policy
Export Market Reports
Are you looking to diversify your seafood export markets, but not sure if a market is right for you and your business? SIA has developed a series of FREE market summaries and supply chain guides to help producers gain valuable insights into new markets and make informed business decisions.