Latest news with #MinistryofOceansandFisheries
Korea Herald
2 days ago
- Business
- Korea Herald
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.'
Korea Herald
4 days ago
- Politics
- Korea Herald
Oceans Ministry begins relocation preparations to Busan following Lee's directive
The Ministry of Oceans and Fisheries has officially begun preparations to relocate to the southeastern city of Busan, following a directive from President Lee Jae-myung amid such pending issues as budget and employee concerns, officials said Friday. On Thursday, Lee instructed the government to swiftly work on the relocation of the Ministry of Oceans and Fisheries from its current location in Sejong, the administrative city about 110 kilometers south of Seoul, to Busan. The relocation was one of Lee's major campaign pledges, aimed at developing Busan as a regional maritime hub and promoting balanced regional development. "We'll need to form a task force to begin preparations for the relocation in cooperation with related ministries," a ministry official said. It is reviewing relevant regulations and procedures and examining precedents from past government relocations, the official added. The Special Act on the Construction of Multifunctional Administrative City stipulates that the foreign, justice, defense and gender equality ministries shall not be relocated from Seoul, but it contains no specific provisions regarding the Oceans Ministry. One of the key issues is the budget for the relocation, which is expected to cost several billion won. Some officials believe that renting private buildings prior to the construction of new government facilities would be a practical approach to expedite the move. Another pressing issue is how to address the anxiety among ministry officials, including concerns about housing and their children's education in the event of a relocation. A recent survey conducted by the ministry's labor union found that 86 percent of the staff at the headquarters opposed the move to Busan. Some also expressed concerns that relocating the ministry could hinder collaboration with the National Assembly in Seoul and other government ministries based in Sejong. "Employees are feeling very anxious," another ministry official said. "We need to work with related ministries to develop support measures that address these concerns." (Yonhap)
Korea Herald
06-05-2025
- Business
- Korea Herald
Europe highlights plastic pollution at OOC Korea
Europe highlighted ways to tackle marine plastic pollution at the 10th edition of Our Ocean Conference held in Busan, South Korea. Under the theme 'Our Ocean, Our Action,' the conference brought together more than 2,600 ocean leaders from over 100 countries, resulting in 277 global pledges totaling $9.1 billion, according to Korea's Ministry of Oceans and Fisheries. Speaking at the conference, Charlina Vitcheva, director-general for maritime affairs and fisheries at the European Commission, underscored the European Union's commitment to combat plastic pollution. 'The EU will remain firmly committed to finding a global solution to address plastic pollution,' Vitcheva said. 'A global plastics treaty is needed more than ever. If business as usual continues, plastic production will triple by 2060,' said Vitcheva, echoing warnings by the OECD that increasing plastic use — particularly in short-lived products — could drive a sharp rise in pollution unless urgent action is taken on reducing demand, improving durability and enhancing recycling. The UN Environment Program estimates that 19 to 23 million metric tons of plastic waste currently enter aquatic ecosystems annually, threatening ecosystems, biodiversity and human livelihoods. South Korea has pledged 3.7 trillion won ($2.7 billion) to advance its Korea Blue Action Plan, part of a broader international effort to promote ocean sustainability. The plan outlines 76 national commitments to preserve marine ecosystems and promote sustainable development, said the ministry. This year's conference welcomed a delegation of 11 representatives from Germany, Greece, Ireland and other EU Member States to facilitate the maritime agenda and outreach activities for marine environmental protection. According to the EU delegation in Korea, Busan City forged meaningful and tangible cooperation with the EU, recognizing its role and identity as a global ocean city. Notably, a used fishing net recycling campaign was also held on April 28 as part of these efforts. Despite the mounting global crisis, there are signs of progress, Vitcheva said, highlighting that marine litter on EU coastlines has dropped by nearly one-third, attributing the success to concerted efforts by governments, civil society and citizens, driven by the EU's Marine Strategy Framework Directive. The EU delegation in Korea also stressed growing partnership with Korea under the EU-Korea Green Partnership, launched in 2023. As part of the partnership, the EU delegation hosted a side event titled 'How the Circular Economy Will End Marine Plastic Pollution: A Joint Effort of Ambitious Policies and Innovative Businesses.' The seminar convened global policymakers, industry leaders and civil society representatives to explore innovative solutions rooted in circular economy principles aimed at ending marine plastic pollution. 'We have the Green Partnership with Korea since 2023, and its key elements embrace cooperation towards developing new circular economy models, which are strategic in tackling global marine plastic pollution issues,' said EU Ambassador to Korea Maria Castillo Fernandez. 'We need to align our approaches to create a supportive framework for transformative innovation,' she said. Meanwhile, Netherlands Ambassador to Korea Peter van der Vliet called for upstream solutions. 'It starts with smarter design, reuse systems and business models that reduce the burden on nature,' van der Vliet said, urging bold international policy to nurture innovation.
Scoop
30-04-2025
- Business
- Scoop
Talks With Korea Look Positive For Bina Harbour
Press Release – Bina Harbour Solomon Islands Korean officials expressed interest in reviewing feasibility and other studies produced by the Bina Harbour Project Office with a possible view to supporting Solomon Islands with technical assistance and finance to build enabling infrastructure for a tuna … 30 April 2025 – OFFICIALS FROM HONIARA met with Korea's Ministry of Oceans and Fisheries and others in Seoul last week to discuss a possible collaboration on the Bina Harbour Tuna Processing Plant project. Ministry of Fisheries and Marine Resources Permanent Secretary Dr Christain Ramofafia, Ronald Ivupitu, Chief Engineer Solomon Islands Ports Authority, and Fred Conning, Technical Services Coordinator for the Bina Harbour Project Office, were in Korea to attend a Port Expert Workshop organised by Korea's Ministry of Oceans and Fisheries and hosted by the Korea Ports and Harbour Association. Delegates from Vietnam also attended the event, which was a chance to explore partnerships and strengthen ties in the fisheries and maritime industries. The hosts shared their experience in the design, implementation, and financing of port operations. They organised a visit to Busan port and fishing port facilities of a similar scale to that envisaged for the Bina project. Korean officials expressed interest in reviewing feasibility and other studies produced by the Bina Harbour Project Office with a possible view to supporting Solomon Islands with technical assistance and finance to build enabling infrastructure for a tuna processing plant in Bina. Dr Ramofafia said Korea and Solomon Islands have enjoyed a longstanding bilateral relationship in fisheries since the 1980s. 'Korea is our largest fishing fleet customer, so we already have a strong economic partnership in the fisheries sector. We would welcome a partnership with Korea to construct Bina port facilities.' The Bina Harbour Tuna Processing Plant project, a Solomon Islands Government initiative led by the Ministry of Fisheries and Marine Resources, is in the preparatory phase. Expert teams from the BHPO are undertaking site studies to support the design and costing of the land and maritime infrastructure and to secure the funds required to enter the construction phase. The plant in Bina will be the nation's third export port and the first significant investment in Malaita, aiming to generate jobs and boost the local economy. The Bina Harbour Project Office is funded by New Zealand's Ministry of Foreign Affairs and Trade and assisted by the International Finance Corporation which serves as a transactional advisor to the Ministry of Fisheries and Marine Resources.
Scoop
30-04-2025
- Business
- Scoop
Talks With Korea Look Positive For Bina Harbour
30 April 2025 - OFFICIALS FROM HONIARA met with Korea's Ministry of Oceans and Fisheries and others in Seoul last week to discuss a possible collaboration on the Bina Harbour Tuna Processing Plant project. Ministry of Fisheries and Marine Resources Permanent Secretary Dr Christain Ramofafia, Ronald Ivupitu, Chief Engineer Solomon Islands Ports Authority, and Fred Conning, Technical Services Coordinator for the Bina Harbour Project Office, were in Korea to attend a Port Expert Workshop organised by Korea's Ministry of Oceans and Fisheries and hosted by the Korea Ports and Harbour Association. Delegates from Vietnam also attended the event, which was a chance to explore partnerships and strengthen ties in the fisheries and maritime industries. The hosts shared their experience in the design, implementation, and financing of port operations. They organised a visit to Busan port and fishing port facilities of a similar scale to that envisaged for the Bina project. Korean officials expressed interest in reviewing feasibility and other studies produced by the Bina Harbour Project Office with a possible view to supporting Solomon Islands with technical assistance and finance to build enabling infrastructure for a tuna processing plant in Bina. Dr Ramofafia said Korea and Solomon Islands have enjoyed a longstanding bilateral relationship in fisheries since the 1980s. 'Korea is our largest fishing fleet customer, so we already have a strong economic partnership in the fisheries sector. We would welcome a partnership with Korea to construct Bina port facilities.' The Bina Harbour Tuna Processing Plant project, a Solomon Islands Government initiative led by the Ministry of Fisheries and Marine Resources, is in the preparatory phase. Expert teams from the BHPO are undertaking site studies to support the design and costing of the land and maritime infrastructure and to secure the funds required to enter the construction phase. The plant in Bina will be the nation's third export port and the first significant investment in Malaita, aiming to generate jobs and boost the local economy. The Bina Harbour Project Office is funded by New Zealand's Ministry of Foreign Affairs and Trade and assisted by the International Finance Corporation which serves as a transactional advisor to the Ministry of Fisheries and Marine Resources.
