Data from 214 fisheries auction houses nationwide revealed a 4 percent increase in the trading volume of dried seaweed, known locally as "gim," to 536,000 tons in 2024.
However, the trading value skyrocketed by 88 percent to 1.16 trillion won ($792 million). This surge translated to a near-doubling of the average price per kilogram to 2,163 won from 1,199 won in 2023.
The Ministry of Oceans and Fisheries reported in November 2024 that outbound shipments of gim reached $850 million during the first ten months, surpassing the previous record of $790 million set in 2023.
While the ministry fell short of its $1 billion export target, a spokesperson confirmed the addition of three to four new export destinations compared to October 2024.
The price surge has significantly benefited major seaweed farming regions. The Jindo county branch of the Fisheries Cooperative reported a 138.7 billion won increase in its trading value to 374.2 billion won in 2024.
"We will continue to promote the health benefits of South Korean-made dried seaweed to expand our global customer base," a ministry official said in a release. "Simultaneously, we will increase support for production to ensure a stable domestic supply."
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