Shrimp, classified as a 'sensitive good', is currently tariffed at 20% when imported to South Korea. With the coming FTA, the tax rate will be lower.
Statistics from Ministry of Industry and Trade show that from 2001 to 2006, trade turnover between Vietnam and South Korea increased by 14.9% annually. This rate grew to 29.1% during the period 2007-2012. Vietnam's seafood exports to Korea increased significantly. In 2010, Vietnam's seafood exports to South Korea valued at US$ 386.1 million. In 2014, the value doubled to US$ 662.8 million.
Among seafood items exported to Korea, shrimp is found to have the highest value, accounting for 48% of the total seafood export value. South Korea is currently the fifth largest market for shrimp from Vietnam, behind the US, Japan, EU and China.
In the last 5 years, Korean's imports of Vietnamese shrimp maintained positive growth. In 2014, Vietnam surpassed China to become the largest shrimp supplier with 44% of market share in Korea. China became the runner-up with 22%, followed by Thailand with 7%.
FTA between Vietnam and South Korea with the pledge to cut taxes for Vietnam's main agricultural products, including shrimp, when exporting to South Korea will create greater competitive advantage for Vietnam. Accordingly, Korea is expected to be a more important shrimp market for Vietnam in the coming years.
|
Shrimp imports into South Korea 2010 – 2014 by weight (Unit: MT) Source: ITC |
||||||
|
Origin |
2010 |
2011 |
2012 |
2013 |
2014 |
2014/2013 (%) |
|
World |
66,934 |
77,450 |
72,472 |
60,833 |
62,878 |
3.4 |
|
Vietnam |
18,041 |
19,118 |
18,795 |
20,381 |
27,791 |
36.4 |
|
China |
25,738 |
34,093 |
31,425 |
21,208 |
13,936 |
-34.3 |
|
Thailand |
10,381 |
10296 |
10,434 |
5,626 |
4,424 |
-21.4 |
|
Ecuador |
15 |
1113 |
3,478 |
3,914 |
4,251 |
8.6 |
|
Malaysia |
8,361 |
8,764 |
4,998 |
4,059 |
4,026 |
-0.8 |
|
India |
29 |
52 |
361 |
2,519 |
2,964 |
17.7 |
|
Argentina |
0 |
124 |
177 |
331 |
1,041 |
214.5 |
|
Indonesia |
305 |
557 |
406 |
384 |
869 |
126.3 |
|
Philippines |
129 |
227 |
66 |
426 |
696 |
63.4 |
|
Saudi Arabia |
2,064 |
1245 |
669 |
280 |
448 |
60.0 |
|
Shrimp imports into South Korea 2010 – 2014 by value (Unit: US$ thousands) Source: ITC |
||||||
|
Origin |
2010 |
2011 |
2012 |
2013 |
2014 |
2014/2013 (%) |
|
World |
323,221 |
412,694 |
428,321 |
437,618 |
566,781 |
29.5 |
|
Vietnam |
117,419 |
152,703 |
163,974 |
181,705 |
290,244 |
59.7 |
|
China |
74,488 |
99,409 |
110,346 |
96,824 |
69,580 |
-28.1 |
|
Thailand |
62,908 |
77,308 |
79,272 |
51,978 |
56,165 |
8.1 |
|
Ecuador |
119 |
8179 |
23,742 |
32,920 |
41,564 |
26.3 |
|
Malaysia |
40,605 |
47,225 |
28,120 |
29,439 |
36,784 |
24.9 |
|
India |
246 |
558 |
1,920 |
20,836 |
21,765 |
4.5 |
|
Philippines |
1,654 |
3251 |
854 |
5,692 |
10,416 |
83.0 |
|
Argentina |
0 |
945 |
1,350 |
2,405 |
9,060 |
276.7 |
|
Indonesia |
2,474 |
3126 |
3,640 |
3,023 |
8,687 |
187.4 |
|
Peru |
0 |
0 |
109 |
1,613 |
3,424 |
112.3 |
(vasep.com.vn) Vietnam’s tuna exports reached USD 81 million in April 2026, down 6% compared to the same period in 2025. In the first four months of the year, export turnover totaled USD 289 million, down 4.8%. Although the overall export picture has yet to brighten significantly, market trends are becoming increasingly diversified rather than moving in a single direction.
(seafood.vasep.com.vn) Vietnam’s pangasius industry is undergoing strong restructuring starting from the broodstock and fingerling segment in order to improve productivity, quality, and export competitiveness. This is considered a critical foundation for the sustainable development of the industry amid rising production costs and increasingly stringent market requirements.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports in April 2026 reached USD 206 million, up 18% compared to the same period in 2025 — marking another consecutive month of double-digit growth since the beginning of the year. Cumulative pangasius export turnover in the first four months of 2026 reached USD 720 million, up 17% year-on-year, reflecting the positive growth momentum of this key export product.
(seafood.vasep.com.vn) Vietnam’s shrimp exports in the first four months of 2026 maintained positive growth momentum, reaching approximately USD 1.5 billion, up 15% compared to the same period last year. However, behind this result lies diverging trends across markets, as the global shrimp industry continues to face pressure from inflation, high inventories, price competition, and increasing trade risks.
(seafood.vasep.com.vn) In Vinh Tuy commune (Kien Giang Province), many shrimp farmers are adopting bottom aeration systems and reporting clear economic benefits, helping increase income and reduce production risks.
(vasep.com.vn) In the first three months of 2026, Vietnam’s exports of crabs and other crustaceans reached more than USD 93 million, up 23% compared to the same period last year. The result shows that the sector is experiencing a fairly positive recovery, especially in its two key product groups: crabs and swimming crabs. However, behind the growth figures are several concerns: export markets remain highly concentrated, raw material supply is unstable, and trade barriers from the US and EU are becoming increasingly stringent.
(seafood.vasep.com.vn) In Ca Mau province, many farmers are transitioning from traditional methods to high-tech shrimp farming, adopting recirculating systems with minimal water exchange to improve efficiency and reduce risks. In Hung My commune alone, there are about 260 super-intensive shrimp farming households covering more than 265 hectares, playing a key role in local economic development.
(seafood.vasep.com.vn) In the first three months of 2026, Vietnam’s exports of fish cake and surimi reached USD 63 million, down 5% compared to the same period last year. Although total export value declined slightly due to decreases in some key markets, many other destinations continued to post strong growth, opening up room for this convenience-oriented processed segment in the coming quarters.
(seafood.vasep.com.vn) Favorable weather conditions in the early months of 2026 have brought encouraging signs for fisheries activities in Quang Tri. Output has grown steadily, contributing to improved livelihoods for local residents.
Entering 2026, Vietnam’s seafood industry is facing a period of both high expectations and mounting pressures. Following the positive recovery in 2025, production and export activities in Q1/2026 demonstrated the strong adaptability of Vietnam’s seafood business community amid continued global trade volatility, intensifying international competition, and increasingly stringent compliance requirements in import markets.
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