Between 2015 and 2023, seafood output in South Korea showed a mixed trend. Values increased from 7.35 trillion KRW in 2015 to 8.94 trillion KRW in 2023, representing a year-on-year growth of 1.02% in 2023. Notable variations included a significant decline of 15.14% in 2020 and a substantial increase of 16.79% in 2017. Over the last five years, the compound annual growth rate (CAGR) hovered around 1.35%.
Future trends suggest a steady increase in seafood output, with forecasted values reaching 9.39 trillion KRW by 2028. The projected five-year CAGR is 0.82%, indicating moderate growth.
Future trends to watch for:
- Sustainability practices affecting seafood production.
- Regulatory changes and their impact on the fishing industry.
- Technological advancements in aquaculture and fishing methods.
- Shifts in consumer demand towards sustainable and organic seafood options.
