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K-seafood exports stay afloat, but tariffs weigh on growth
Gim, or dried seaweed, drives US exports, but momentum weakens amid tariff hikes
Korean seafood export growth slowed between January and April, burdened by US tariff pressures, with an uncertain outlook as added duties to stricter non-tariff measures loom.
In the first four months of 2025, Korea exported $1.05 billion worth of seafood, a 3.7 percent increase from a year earlier, according to data from the Ministry of Oceans and Fisheries and the Korea Maritime Institute.
Exports to the US, Korea's third-largest destination after Japan and China, also maintained growth, with shipments rising 6.7 percent to $186.6 million. Despite the uptick, however, this figure marks a slowdown compared to the 11.7 percent increase recorded during the same period in 2024.
The main driver behind Korean seafood exports to the US was dried seaweed, or gim in Korean, long favored by American consumers as a snack and a staple in dishes like gimbap.
Gim alone accounted for nearly 45 percent of all US-bound seafood exports last year, totaling more than $213 million.
Yet minor cracks in the export momentum have begun to appear.
While gim exports to the US surged 21.7 percent on-year to $57.95 million during the January–March period, growth slowed in April, the first month after a 10 percent baseline tariff took effect under the Trump administration. That month, shipments rose just 13.9 percent to $24.2 million.
According to the ministry, other items, including flatfish, fish cakes and oysters, have also experienced slower growth in the wake of US tariffs.
The dampened growth has added to industry concerns over an additional 15 percent tariff set to take effect on July 8.
A recent report by the Korea Maritime Institute estimated that such a move could shrink Korea's annual seafood exports to the US by up to 3.65 percent. This contrasts sharply with the 12.7 percent annual growth recorded between 2020 and 2024.
Beyond tariffs, non-tariff barriers could put K-seafood exports at risk.
On April 17, President Donald Trump signed an executive order titled Restoring American Seafood Competitiveness, aimed at making the US the global seafood leader.
'Nearly 90 percent of seafood on our shelves is now imported, and the seafood trade deficit stands at over $20 billion,' the statement read. 'The erosion of American seafood competitiveness at the hands of unfair foreign trade practices must end.'
The order includes provisions to investigate illegal, unreported and unregulated fishing and to assess the presence of forced labor in foreign seafood supply chains, steps that could place Korean products under further regulatory scrutiny.
In early April, the US Customs and Border Protection issued a Withhold Release Order against Taepyung Salt Farm in Sinan, South Jeolla Province, citing forced labor violations under 19 USC 1307.
To ensure a prompt response to US trade and tariff issues, the oceans ministry launched an interagency task force in late April, focused on assessing the impact of tariffs and executive orders on seafood exports, while exploring strategies to diversify export markets.
'The US is a key export market for Korean seafood, particularly for gim, mainly exported as seasoned seaweed,' said Oceans Minister Kang Do-hyung. 'We will respond swiftly and proactively to trade issues in coordination with relevant ministries to minimize the disruption to the seafood industry.'
