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 seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
(vasep.com.vn) Vietnam’s tuna exports sustained their upward trajectory in August 2026, though the pace remained modest at just 2%. The month saw divergent trends across key markets: the US maintained its leading position, Japan and Canada improved, Russia surged and the EU continued to experience a steep downturn. These developments suggest that exporters are entering the final months of the year amid a market environment marked by greater uncertainty.
(seafood.vasep.com.vn) Congalsa has acquired the entire charter capital of Lenger Seafood Vietnam, giving it full ownership of the business and its Nam Dinh processing facility.
(seafood.vasep.com.vn) Ninh Binh Province is entering a peak period of action against illegal, unreported and unregulated (IUU) fishing, focusing on thoroughly addressing violations, closely monitoring fishing vessels at ports and preventing vessels from violating regulations and operating illegally in foreign waters ahead of the European Commission’s (EC) upcoming inspection in 2026.
(vasep.com.vn) The application of biotechnology in seed production is increasingly viewed as a strategic imperative to upgrade pangasius fingerling quality, optimize farming efficiency and anchor sustainable industry development.
(vasep.com.vn) On September 15, 2026, in Can Tho, VASEP and ASC jointly organized a training course titled “New ASC standards: updates and practical implementation guidance for farms, businesses and aquafeed mills”. Beyond briefing stakeholders on updated ASC requirements for aquaculture facilities and feed production, the workshop dedicated substantial floor time to directly addressing on-the-ground compliance bottlenecks encountered by Vietnamese enterprises.
(searfood.vasep.com.vn) Vietnam’s tilapia exports continued to post positive results in the first eight months of 2026, with total export value reaching US$90 million, up 43% year-on-year. However, exports in August alone stood at US$11 million, down 8%, reflecting uneven market developments. Brazil remained the leading market, while Japan recorded notable growth, opening up new opportunities for Vietnamese tilapia products.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.3 billion in the first eight months of 2026, up 12% year on year. However, growth has begun to slow and become more differentiated across markets, while the U.S. and EU continue to present significant challenges. The latest insights from the Global Shrimp Forum 2026 (GSF 2026), held in early September, also indicate that the final months of the year will remain highly competitive as global supply continues to expand and buyers increasingly focus on quality, product specifications, supply stability and the ability to meet market-specific demand.
(seafood.vasep.com.vn) In August 2026, Vietnam’s seafood exports reached $1.14 billion, up 6% year on year. Cumulative eight-month exports rose 11.8% to $8.00 billion, though momentum has cooled compared to the 12.8% growth seen through July. China - Hong Kong and ASEAN are offsetting weakness in the U.S, EU and partly Japan. This divergence will likely widen in Q4 as trade tariffs and traceability requirements directly weigh on new orders.
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