
S. Korea's dried seaweed has gone global, now, it's going green
SEOUL: Among South Korea's ocean bounty, one standout is seaweed, most iconically in its dried form, known in Korean as gim.
While many Koreans now take quiet pride in seeing this humble staple elevated to a global delicacy, only a handful have considered its promise beyond the plate.
Seaweed, after all, is giving back to the very waters that once gave it life – as a source of climate solutions now taking root in South Korea.
According to the World Bank's 2023 Global Seaweed Markets Report, seaweed is a powerful climate ally – a form of 'blue carbon' in ocean and coastal ecosystems capable of sinking carbon and supporting biodiversity.
The report highlights 10 emerging markets, such as bioplastics, animal feed and nutraceuticals, that are projected to grow by US$11.8bil by 2030.
Most farmed seaweed is still used for food or aquaculture, with 98% of global supply produced by a few Asian countries, South Korea among them.
As the world's third-largest producer of seaweed and the top exporter of gim, South Korea is turning its attention toward the algae's environmental promise.
One of the Oceans and Fisheries Ministry's key initiatives is the creation of underwater ecosystems densely populated with seaweed species, known as 'sea forests'.
According to the Korea Fisheries Resources Agency, over 347 square kilometres of these sea forests have been created since 2009, now absorbing around 117,000 tonnes of carbon dioxide annually.
The ministry has set targets to increase South Korea's blue carbon absorption to 1.07 million tonnes by 2030 and 1.36 million tonnes by 2050.
'Sea forests, once valued mainly as sources of food and shelter for marine life, are now being recognised for their strong carbon absorption capacity,' a ministry official said. 'We are working to secure international blue carbon certification to acknowledge their role in climate mitigation.'
Seaweed already meets five of the six core criteria for international recognition, with the final step, formal inclusion in the Intergovernmental Panel on Climate Change's (IPCC) greenhouse gas inventory guidelines, currently under review.
The IPCC currently recognises mangroves, salt marshes and seagrasses as official blue carbon ecosystems.
The country is further institutionalising its ambitions, with the National Marine Biodiversity Institute of Korea set to build its own blue carbon research centre by 2028.
Elsewhere, Wando-gun in South Jeolla Province – South Korea's largest seaweed-producing region – has become a focal point in global blue carbon discussions.
In November last year, the local government visited the National Aeronautics and Space Administration (Nasa) in the United States to hold working-level discussions on advancing seaweed's blue carbon certification.
In 2021, Nasa highlighted Wando by releasing satellite images and praising the region's sustainable farming practices as ideal for seaweed-based carbon mitigation.
'I asked Nasa to help highlight the role of Wando's seaweed farms so that seaweed can be officially certified as blue carbon,' said county mayor Shin Woo-chul after the visit, adding that the US agency expressed support for the initiative.
The local government is also collaborating with the US Department of Energy's Advanced Research Projects Agency–Energy on a joint South Korea-US project, running through 2029, to develop offshore seaweed farming systems for large-scale biomass production and blue carbon advancement. — The Korea Herald/ANN
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The Star
17 minutes ago
- The Star
Bursa pares gains to close lower on cautious sentiment ahead of US tariff deadline
KUALA LUMPUR: Bursa Malaysia pared earlier gains to close lower on Monday, as investors adopted a more cautious posture ahead of the US tariff negotiation deadline on Aug 1. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.38 points, or 0.29 per cent, to close at 1,529.38 from Friday's close of 1,533.76. The benchmark index opened 4.29 points firmer at 1,538.05 and moved between 1,528.34 and 1,539.38 throughout the trading session. In the broader market, losers led gainers 554 to 420, while 488 counters were unchanged and 1,091 untraded, with 43 suspended. Turnover improved to three billion units worth RM2.30 billion from 2.86 billion shares worth RM2.16 billion on Friday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, noted that the FBM KLCI commenced the week's trading on a firm footing, posting early gains during the morning session. However, the momentum proved unsustainable into the afternoon, with the index closing lower as investors adopted a more cautious posture ahead of Thursday's US tariff deadline. "Among the FBM KLCI constituents, plantation and utility counters led the gainers, aligning with our weekly view that investor positioning would favour domestically oriented sectors amidst heightened external uncertainty. "We anticipate markets will continue to consolidate in the near term, awaiting further signals from the Malaysia-US trade talks or any fresh tariff-related announcements from US President Donald Trump,' he told Bernama. Mohd Sedek noted that regional peers delivered a mixed performance on Monday, weighed by profit-taking and concerns over global trade developments. Hong Kong's Hang Seng gained 0.68 per cent to close at 25,562.13, South Korea's Kospi garnered 0.42 per cent to 3,209.52, while Singapore's Straits Times Index lost 0.27 per cent to 4,249.48, and Japan's Nikkei 225 shed 1.10 per cent to 40,998.27. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local benchmark index closed below the 1,530 level due to late selling. He noted that market sentiment was subdued as investors awaited more details from the US-China trade discussions, set to begin in Stockholm later today. Thong said the local bourse remains in consolidation mode, hovering around the 1,530 level due to a lack of fresh catalysts. "For the moment, we expect the FBM KLCI to trend range-bound, hovering within 1,510-1,540 points for the week. We notice crude palm oil (CPO) futures remain above RM4,000 per tonne, and we believe this is an opportunity to accumulate plantation stocks,' he added. Of the heavyweight stocks, Maybank, CIMB and IHH Healthcare were all flat at RM9.54, RM6.75 and RM6.66, respectively. Public Bank fell four sen to RM4.25 and Tenaga Nasional slid 24 sen to RM13.36. Petronas Chemicals jumped eight sen to RM3.61, and Nestle surged RM2.50 to RM88. Among the most active stocks, Ekovest added four sen to 44 sen, NexG inched up half a sen to 53 sen, and Tanco grew one sen to 92.5 sen. Zetrix AI went down 7.5 sen to 83.5 sen and YTL Corporation slipped three sen to RM2.45. Among top gainers and decliners, Sam Engineering and Equipment rallied 13 sen to RM4.20, while Fraser and Neave and Infomina were 10 sen higher each at RM29 and RM1.1, respectively. United Plantations dropped 32 sen to RM21.90, and Petronas Dagangan lost 26 sen to RM21.44 to lead the losers. Across the broader market, the FBM Emas Index dropped 34.62 points to 11,472.20, the FBMT 100 Index slipped 37.27 points to 11,232.45, and the FBM Emas Shariah Index lost 38.94 points to 11,490.04. The FBM 70 Index fell 77.16 points to 16,530.41 while the FBM ACE Index shaved 2.42 points to 4,636.60. By sector, the Plantation Index grew 28.44 points to 7,463.23, the Industrial Products and Services Index inched up 0.25 of a point higher to 157.39, and the Energy Index climbed 0.94 of a point to 740.79. The Financial Services Index sank 45.86 points to 17,408.37. The Main Market volume improved to 1.67 billion units valued at RM2.03 billion from 1.26 billion units valued at RM1.85 billion. Warrant turnover slipped to 1.01 billion units worth RM161.01 million from 1.28 billion units worth RM218.03 million previously. The ACE Market volume rose to 323.13 million units worth RM106.95 million from 313.89 million units worth RM90.97 million. Consumer products and services counters accounted for 236.86 million shares traded on the Main Market; industrial products and services (218.34 million), construction (182.64 million), technology (469.30 million), SPAC (nil), financial services (63.27 million), property (170.58 million), plantation (13.29 million), REITs (15.88 million), closed-end fund (900), energy (110.48 million), healthcare (42.84 million), telecommunications and media (33.72 million), transportation and logistics (39.83 million), utilities (71.07 million), and business trusts (27,000). - Bernama

Barnama
19 minutes ago
- Barnama
Bursa Pares Gains To Close Lower On Cautious Sentiment Ahead Of US Tariff Deadline
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 4.38 points, or 0.29 per cent, to close at 1,529.38 from Friday's close of 1,533.76. KUALA LUMPUR, July 28 (Bernama) -- Bursa Malaysia pared earlier gains to close lower on Monday, as investors adopted a more cautious posture ahead of the US tariff negotiation deadline on Aug 1. Turnover improved to three billion units worth RM2.30 billion from 2.86 billion shares worth RM2.16 billion on Friday. In the broader market, losers led gainers 554 to 420, while 488 counters were unchanged and 1,091 untraded, with 43 suspended. The benchmark index opened 4.29 points firmer at 1,538.05 and moved between 1,528.34 and 1,539.38 throughout the trading session. 'Among the FBM KLCI constituents, plantation and utility counters led the gainers, aligning with our weekly view that investor positioning would favour domestically oriented sectors amidst heightened external uncertainty. However, the momentum proved unsustainable into the afternoon, with the index closing lower as investors adopted a more cautious posture ahead of Thursday's US tariff deadline. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, noted that the FBM KLCI commenced the week's trading on a firm footing, posting early gains during the morning session. 'We anticipate markets will continue to consolidate in the near term, awaiting further signals from the Malaysia-US trade talks or any fresh tariff-related announcements from US President Donald Trump,' he told Bernama. Mohd Sedek noted that regional peers delivered a mixed performance on Monday, weighed by profit-taking and concerns over global trade developments. Hong Kong's Hang Seng gained 0.68 per cent to close at 25,562.13, South Korea's Kospi garnered 0.42 per cent to 3,209.52, while Singapore's Straits Times Index lost 0.27 per cent to 4,249.48, and Japan's Nikkei 225 shed 1.10 per cent to 40,998.27. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local benchmark index closed below the 1,530 level due to late selling. He noted that market sentiment was subdued as investors awaited more details from the US-China trade discussions, set to begin in Stockholm later today. Thong said the local bourse remains in consolidation mode, hovering around the 1,530 level due to a lack of fresh catalysts. 'For the moment, we expect the FBM KLCI to trend range-bound, hovering within 1,510-1,540 points for the week. We notice crude palm oil (CPO) futures remain above RM4,000 per tonne, and we believe this is an opportunity to accumulate plantation stocks,' he added. Of the heavyweight stocks, Maybank, CIMB and IHH Healthcare were all flat at RM9.54, RM6.75 and RM6.66, respectively. Public Bank fell four sen to RM4.25 and Tenaga Nasional slid 24 sen to RM13.36. Petronas Chemicals jumped eight sen to RM3.61, and Nestle surged RM2.50 to RM88. Among the most active stocks, Ekovest added four sen to 44 sen, NexG inched up half a sen to 53 sen, and Tanco grew one sen to 92.5 sen. Zetrix AI went down 7.5 sen to 83.5 sen and YTL Corporation slipped three sen to RM2.45. Among top gainers and decliners, SAM Engineering and Equipment rallied 13 sen to RM4.20, while Fraser and Neave and Infomina were 10 sen higher each at RM29 and RM1.1, respectively. United Plantations dropped 32 sen to RM21.90, and Petronas Dagangan lost 26 sen to RM21.44 to lead the losers. Across the broader market, the FBM Emas Index dropped 34.62 points to 11,472.20, the FBMT 100 Index slipped 37.27 points to 11,232.45, and the FBM Emas Shariah Index lost 38.94 points to 11,490.04. The FBM 70 Index fell 77.16 points to 16,530.41 while the FBM ACE Index shaved 2.42 points to 4,636.60. By sector, the Plantation Index grew 28.44 points to 7,463.23, the Industrial Products and Services Index inched up 0.25 of a point higher to 157.39, and the Energy Index climbed 0.94 of a point to 740.79. The Financial Services Index sank 45.86 points to 17,408.37. The Main Market volume improved to 1.67 billion units valued at RM2.03 billion from 1.26 billion units valued at RM1.85 billion. Warrant turnover slipped to 1.01 billion units worth RM161.01 million from 1.28 billion units worth RM218.03 million previously. The ACE Market volume rose to 323.13 million units worth RM106.95 million from 313.89 million units worth RM90.97 million. Consumer products and services counters accounted for 236.86 million shares traded on the Main Market; industrial products and services (218.34 million), construction (182.64 million), technology (469.30 million), SPAC (nil), financial services (63.27 million), property (170.58 million), plantation (13.29 million), REITs (15.88 million), closed-end fund (900), energy (110.48 million), healthcare (42.84 million), telecommunications and media (33.72 million), transportation and logistics (39.83 million), utilities (71.07 million), and business trusts (27,000). -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial


The Star
an hour ago
- The Star
Can taxis and ride-hailing services co-exist in Hong Kong under new rules?
Hong Kong's proposed regulation of ride-hailing services shows that the government intends to take a slice of the market while reining in platforms and supporting the taxi trade, but the plan hinges on balancing the competing interests of all players, experts have said. Industry insiders added that the Transport and Logistics Bureau faced several challenges in achieving all three objectives. Secretary for Transport and Logistics Mable Chan, who took office last December, told lawmakers on Friday of her determination to resolve the long-standing conflict between taxis and ride-hailing services. Taxi drivers have repeatedly raised concerns that many Uber drivers do not hold valid hire-car permits while platforms have argued they provided better service. The bureau unveiled its regulatory blueprint earlier last week, outlining a comprehensive framework for governing drivers, vehicles and platform operators. Besides listing the necessary licences and permits that operators and drivers must hold, the proposal also includes a yet to be specified cap on the number of vehicles providing ride-hailing services and a levy imposed on platforms for each trip. Officials have cited the experience of the Australian state of Victoria, which introduced a levy to compensate cabbies affected by the legalisation of ride-hailing platforms. The government will also charge platforms a licensing fee based on the number of vehicles they operate. US-based Uber started operating locally in 2014 and had taken a dominant position until recent years as Tada, Amap and Didi Chuxing entered the market. Amap is operated by Alibaba Group Holding, which also owns the South China Morning Post. 'Once the ride-hailing sector is opened up and legalised, it will be the beginning of a new era,' lawmaker Michael Tien Puk-sun said. 'I think that the demand is very big, especially with how severe extreme weather is nowadays.' Tien added that he believed demand in the city in the next five years could support a similar number of ride-hailing vehicles seen in Singapore. The city state currently has 59,371 such cars as of 2024, according to official data. Observers also noted that the government aimed to take a slice of the lucrative ride-hailing sector, curb the influence of platforms through regulation and charges, and support the taxi trade, a move which comes amid the launch of a premium cab fleet. Although the planned legal framework is pending further details, Ringo Lee Yiu-pui, governor and honorary life president of the Hong Kong, China Automobile Association, said the effectiveness of these strategies depended on whether the government could balance the different interests of all sides. Lawmaker Tien said he believed that the regulatory regime could meet the government's multiple goals. He said he did not think that cabbies would be forced out of the market as they still had the advantage of being able to pick up customers on the street, despite competition from ride-hailing operators. The bureau's survey conducted between November last year and January led to an estimate that showed ride-hailing services accounted for 22 per cent of 880,000 point-to-point trips with passengers a day, with the rest being taxis. In response to complaints about taxi drivers from tourists, who often cited cherry-picking of passengers and overcharging, the government issued its first of five taxi fleet licences earlier this week. The premium taxi fleets are designed to offer enhanced services at a higher fare. Walter Theseira, associate professor of economics at the Singapore University of Social Sciences, said that the ride-hailing sector had expanded rapidly with legalisation in Singapore and other markets, and he expected that the situation would be similar in Hong Kong. 'When ride-hailing becomes either legal or more tacitly endorsed, it expands very quickly and it [does so] largely because ride-hailing offers a superior consumer experience to traditional taxis,' he said. 'The main innovations actually being the online booking systems, tracking of your vehicle and everything, feedback, as well as fixed fares that are based on supply and demand.' He added that in Singapore's experience, many drivers had also decided to switch to ride-hailing after realising the greater earning potential afforded by these platforms. Whether ride-hailing platform operators could stay ahead, however, depended on if the taxi sector could implement practices such as app-based bookings, ratings and driver management. The academic said that taxis were unlikely to disappear from Hong Kong's transport landscape. Instead, he expected cabbies might prefer ride-hailing systems or apps to find customers. Theseira also raised concerns about the fairness of potentially only charging a levy on the ride-hailing sector, as well as how the taxi industry should be supported by authorities. 'Taxi drivers and operators, if you're going to support them, they should be supported to adapt to whatever market practices have been proven to be commercially successful by commuters in terms of those ride-hailing practices,' he said. 'It is not to support them to do the same old thing, unless that is really what commuters want.' -- SOUTH CHINA MORNING POST