South Korea has continued to be a major market for Vietnam's cephalopod exports, with steady growth observed in the first half of 2024. The second quarter saw particularly strong performance, with May and June recording double-digit increases.
The sustained demand from South Korea, coupled with reduced imports from other sources like Japan and China due to factors such as Japan's nuclear wastewater discharge and China's import ban on Japanese seafood, has benefited Vietnam's exporters.
Vietnam's octopus exports have been particularly strong, accounting for 71.9% of the total value to South Korea in the first half of the year. The dried/salted/live/fresh/frozen octopus segment saw a notable 18% increase, while the processed octopus group experienced a 15% decline.
South Korea primarily imports frozen octopus, frozen octopus cuts, cleaned frozen whole octopus, skinless dried squid, and frozen squid tubes from Vietnam.
The average export price of octopus to South Korea has been more stable than that of squid. In the second quarter of this year, the average export price of Vietnamese squid to South Korea showed a downward trend.
According to ITC data, South Korea's imports of cephalopod from all countries decreased by 3% to $494 million in the first six months of 2024. Vietnam ranked second in supplying cephalopod to South Korea, after China. China and Vietnam accounted for 46% and 24% of South Korea's total cephalopod imports, respectively.
In the first half of 2024, among the top three suppliers, imports from China and Vietnam increased, while imports from Peru decreased significantly. South Korea's imports of frozen octopus increased, while imports of frozen squid decreased in the first six months of the year.
In 2024, South Korea's seafood imports are expected to rebound as the Korean economy is forecast to recover. The South Korean won is expected to appreciate by the end of 2024.
In South Korea, demand for ready-to-eat, processed, and preserved foods is rapidly increasing. This information may be a positive signal for Vietnam's cephalopod exports to South Korea in 2024.
(seafood.vasep.com.vn) Nearly US$1.7 billion is the projected gap in 2029 between the baseline scenario and a scenario in which Vietnam’s seafood exports grow by 10% annually, according to calculations by VASEP to be presented at Vietnam Seafood Summit 2026. This gap raises a key question for the entire industry: Which markets, products and supply chain improvements will generate the additional growth?
(seafood.vasep.com.vn) Although Germany’s tuna imports have declined, Vietnam’s tuna exports to the market continue to show positive signs. Notably, export value recovered strongly in Q3/2026, and German import data also show Vietnamese products strengthening their position amid competition among suppliers.
(seafood.vasep.com.vn) Seafood exports are holding double-digit growth, but the opportunities are not spread evenly across product groups and markets. As businesses draw up their plans for 2027, Vietnam Seafood Summit 2026 (VSS2026) offers a chance to look ahead together: what to sell, where to sell it, and how to prepare for growth in the coming years.
(seafood.vasep.com.vn) With less than two weeks to go, the Vietnam Seafood Summit 2026 (VSS 2026) will officially take place in Can Tho. Under the theme “Seafood Market Outlook 2027–2029 – Opportunities and Potential for Double-Digit Export Growth,” the Summit is organized by VASEP at a time when seafood businesses are facing rapid market shifts, changing buyer demand, trade policy changes and growing competitive pressure all at once.
(seafood.vasep.com.vn) On October 28, 2026, the China Fisheries & Seafood Expo opened in Qingdao, China. The expo takes place over three days from October 28 to 30, 2026. This is a prestigious specialized seafood exhibition organized annually by Sea Fare Exposition Inc.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s tilapia exports to the CPTPP bloc reached $7 million, marking a 51% year-on-year increase. The bloc rstands as the fourth-largest market for Vietnamese tilapia, trailing Brazil, the US, and Saudi Arabia.
(vasep.com.vn) VASEP has officially announced the program for Vietnam Seafood Summit 2026 (VSS 2026), featuring five in-depth sessions covering industry outlooks, trade barriers, buyer demand, the domestic market, and solutions to improve productivity and reduce costs across the seafood value chain.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.7 billion in the first nine months of 2026, up 11% year on year. Although growth has been supported by China and several markets within the CPTPP, momentum is slowing as exports to the United States and the European Union decline. Tariff pressures, international competition, and raw material challenges are creating significant hurdles for exporters in the final months of the year.
(vasep.com.vn) Markets are changing faster, buyer requirements are becoming more demanding, and trade barriers are growing increasingly complex. In this environment, seafood businesses need more than an understanding of current market conditions. They need a longer-term perspective to answer a critical question: Where will growth opportunities come from in 2027–2029, and what should businesses do now to prepare? This is one of the key reasons why VASEP is organizing Vietnam Seafood Summit 2026.
(vasep.com.vn) In the first eight months of 2026, Vietnam’s pangasius exports to the Middle East reached US$113 million, up 7% year on year from the same period in 2025. Growth has become more pronounced in recent months. In August alone, exports to the region totaled US$20 million, an increase of 24%. This indicates that demand for Vietnamese pangasius in the Middle East is gradually recovering after a slowdown in March, although the pace of recovery varies across markets.
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