Analysis of the employment trend in the South Korean aquaculture sector from 2013 to 2023 reveals a mixed pattern. The sector witnessed significant fluctuations with a notable peak in 2015, reaching 35.1 thousand units (persons). This was followed by relatively steady growth until 2018 when it hit 37.99 thousand units. From 2019 to 2023, there has been a gradual decline, with employment standing at 35.26 thousand units in 2023. The year-on-year variation shows minor decreases in recent years: 2022 experienced a -0.89% change and 2023 saw a -0.84% change. The Compound Annual Growth Rate (CAGR) over the past five years is at -1.48%.
Forecasts from 2024 to 2028 indicate a continued decline in employment, albeit at a slower rate. The projected CAGR over the next five years is -0.5%, with expected employment dropping to 34.14 thousand units by 2028.
Future trends to watch for include technological advancements in aquaculture that could affect labor demand and potential market expansions or contractions influenced by environmental policies and consumer preferences towards sustainable practices.
