(seafood.vasep.com.vn) Though tuna exports to South Korea currently makes up 0.3% of Vietnam’s total tuna exports, the market continues being considered as the potential importing market of Vietnam tuna in the coming time, especially fresh and frozen tuna products.
In 2007, Vietnam's tuna exports to South Korea were US$88 thousand. However, after 6 years, tuna exports to the country surged 8,370% to eye over US$7.4 million (in 2012). In 2012, due to a decline in global tuna supplies and the ban on exploitation in the WCPO region, the country has increased its imports of tuna from other countries, including Vietnam.
However, after that, Vietnam’s tuna exports decreased. In 2016, Vietnam's tuna exports to South Korea reached US$1.2 million.
In the past 10 years, except for 2012, Vietnam’s mainly exported processed/canned tuna to South Korea, especially canned tuna, accounting for over 80% of total export value. From 2007 to 2014, Vietnam’s exports of processed/canned tuna to the country increased continuously, from US$488 thousand to US$3.1 million. However, since 2015, due to high prices of skipjack tuna, which has affected South Korea's canned tuna imports, Vietnam’s exports of canned tuna to the market declined to US$996 thousand.
Demand for tuna in South Korean is increasing. With the advantage of geography and resources, Vietnamese enterprises have favorable conditions to boost exports of fresh and frozen tuna to the market.