Shrimp exports to South Korea to boast after FTA

News 15:42 23/03/2015 609
(vasep.com.vn) Free trade agreement between South Korea and Vietnam which final negotiation round finished in late 2014 is expected to achieve a higher level of liberalization comparing to FTA between South Korea and ASEAN (AKFTA).

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

Bạn đang đọc bài viết Shrimp exports to South Korea to boast after FTA tại chuyên mục News của Hiệp hội VASEP

TIN MỚI CẬP NHẬT

Vietnamese tuna exports seek momentum from growth markets

 |  09:00 25/05/2026

(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.

Pangasius industry restructures from broodstock to enhance competitiveness

 |  08:59 23/05/2026

(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.

Pangasius exports in April 2026 rise 18%, U.S. market shows signs of recovery

 |  08:21 21/05/2026

(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.

Shrimp exports in the first four months of 2026: Stable demand from Asia, rising pressure from the US market

 |  08:55 19/05/2026

(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.

Vinh Tuy (Kien Giang): Bottom aeration system improves shrimp farming efficiency

 |  08:36 15/05/2026

(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.

Vietnam’s crab exports in Q1/2026: Strong growth, but caution remains necessary

 |  08:59 14/05/2026

(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.

Ca Mau shifts strongly toward high-tech shrimp farming

 |  08:34 13/05/2026

(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.

Amid competitive pressure, fish cake and surimi exports still have growth opportunities

 |  09:08 09/05/2026

(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.

Fisheries in Quang Tri show positive results

 |  08:52 07/05/2026

(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.

What opportunities lie ahead for Vietnam’s seafood exports in 2026?

 |  16:45 05/05/2026

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.

VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM

Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội

Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO

Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu

Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông

Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn

Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh

Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn

VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội

Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn

© Copyright 2020 - Mọi hình thức sao chép phải được sự chấp thuận bằng văn bản của VASEP

DANH MỤC