South Korea – The potential buyer of Vietnam’s fresh/live/frozen octopus

News 09:01 02/02/2018
(seafood.vasep.com.vn) South Korea remained as the leading importer of Vietnam cephalopod, accounting for 34.3% of Vietnam’s total export value of this item to markets. South Korea was also the largest buyer of Vietnam octopus, making up nearly 59% of Vietnam's octopus sales and the second largest importer of Vietnam squid, representing 16.2% of Vietnam’s squid shipments.

In the first 10 months of this year, Vietnam’s cephalopod exports to South Korea were on the upward trend, except for January. The figure in the period estimated at US$178.3 million, up 38.4% over the same period in 2016.

Koreans have high demand for cephalopod, especially dried items. Cephalopod imports into South Korea have been on the increase due to high demand for healthy foods.

According to ITC data, in the first 9 months of this year, cephalopod imports into South Korea fell by 48% to see over US$230 million. China was the largest supplier to Korea; followed by Peru and Vietnam.

In Jan-Sep this year, among the main cephalopod products imported into South Korea; imports of fresh/live/chilled octopus (HS code 030751), processed squid (HS code 160554), processed octopus (HS code 160555) increased by 33.6%; 25.5% and 27.9%, respectively, while those of frozen/dried/salted squid and octopus (HS code 030759) decreased by 70.4% and 98.6%, respectively.

South Korea consumes more octopus than squid. Of that, imports of frozen/dried/salted octopus account for an average share of 49-61% of the total import value, those of fresh/live/chilled octopus take up 11-20% and those of frozen squid occupy 16-30%.

Vietnam's shipments of fresh/frozen octopus take up the biggest proportion in total cephalopod sales to South Korea; followed by dried squid and fresh/frozen squid.

Vietnam expected to boost exports of fresh/live/frozen octopus (HS code 030751 and HS code 030759) to South Korea thanks to the tax rate of 0%.

For frozen octopus, Vietnam accounts for the market share of 35% in value while China takes up 45%. In this segment, Vietnam also has a good chance to increase the market share thanks to the tax rate of 0%, while China is subject to the tax of 20%.

Cephalopod imports into South Korea (Thousand US$; Source: ITC)

HS

Products

Jan-Sep 2016

Jan-Sep 2017

Variation (%)

 

Total

442,524

230,043

-48

030751

Fresh/live/chilled octopus

68,787

91,891

33.6

160554

Processed squid

69,816

87,624

25.5

160555

Processed octopus

20,760

26,550

27.9

030749

Cuttlefish and squid

70,935

20,966

-70.4

030759

Frozen/dried/salted octopus

212,220

3,012

-98.6

030741

Fresh/live/chilled squid

6

-

-100

TIN MỚI CẬP NHẬT

Vietnam’s tilapia makes its mark thanks to sustainability and nutritional value

 |  09:26 12/12/2025

(seafood.vasep.com.vn) Tilapia is easy to farm and provides high economic and nutritional value, making it a sought-after export commodity in many countries.

Vietnam’s seafood exports in 2025 are heading towards the USD 11 billion mark

 |  08:50 10/12/2025

(seafood.vasep.com.vn) Vietnam’s seafood exports in the first 10 months of 2025 recorded significant progress, reaching more than USD 9.5 billion, up 15% year-on-year. This result reflects the sector’s persistent efforts amid a highly volatile market, especially policy shocks from the US Although signs of slowdown emerged in the third quarter due to countervailing taxes, key product groups still maintained strong momentum and created a foundation for full-year exports to reach USD 11 billion.

Vietnam’s tuna on the brink of 0% tariffs in the U.S: Breakthrough potential but significant challenges remain

 |  08:37 08/12/2025

(seafood.vasep.com.vn) Vietnam’s agreement with the United States on a framework for reciprocal, fair, and balanced trade—reached during the 2025 ASEAN Summit in Malaysia—has generated strong optimism for Vietnamese exports, including tuna. Numerous positive points in the joint statement have raised high expectations for Vietnamese export goods, but turning these expectations into tangible benefits remains a long and challenging journey.

Solutions to promote Ca Mau crab exports

 |  09:16 04/12/2025

(seafood.vasep.com.vn) At the conference on “Linking the Production and Consumption Chain of Ca Mau Crab 2025,” Vice Chairman of the Ca Mau Provincial People’s Committee Lê Văn Sử posed a central question: how to shift the province’s crab exports toward official trade channels, instead of relying heavily on small-scale border trade with China as currently practiced.

Japanese market expands its demand for Vietnamese pangasius

 |  09:16 03/12/2025

(seafood.vasep.com.vn) The whitefish market in Japan is showing a clear divergence among supplying countries, in which Vietnam continues to affirm its role as a stable and high-potential exporter. Vietnam currently ranks third after the US and Russia in whitefish export value to Japan. Thanks to tariff incentives and the ability to meet Japan’s strict standards, Vietnamese pangasius continues to record a stable and positive growth trend.

Ca Mau expands RAS-IMTA shrimp farming model to 1,500 hectares

 |  09:16 01/12/2025

(seafood.vasep.com.vn) The People's Committee of Ca Mau Province has just issued a plan to expand the super-intensive, low-water-exchange, biosecure white-leg shrimp farming model (RAS-IMTA) for whiteleg shrimp farming to a scale of 1,500 hectares, aiming to develop high-tech, sustainable and environmentally friendly shrimp farming.

Sa Giang plans to double its charter capital, raising 465 billion VND to invest in Hoan Ngoc Food.

 |  15:21 27/11/2025

(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company (HNX: SGC) plans to issue over 7.1 million shares to raise nearly 465 Billion VND for Hoan Ngoc M&A Deal.

Vietnam’s tilapia industry accelerates: From short-term opportunities to long-term strategy

 |  09:19 27/11/2025

(seafood.vasep.com.vn) According to Rabobank, global tilapia production is forecast to exceed 7 million tons in 2025, driven by a strong recovery in major producing countries including China, Indonesia, Egypt, Bangladesh and Vietnam. Among them, Vietnam is emerging as a potential tilapia supplier in the global supply chain, capitalizing on market fluctuations to expand production and exports.

Seafood exporters break through after a period of slowdown

 |  09:04 26/11/2025

By the end of Q3/2025, Vietnam’s seafood industry recorded a clear recovery as a series of leading companies reported strong profits — some even achieving the highest results in their history. After several quarters struggling with high costs and weakened demand, the latest business results indicate a robust comeback across the industry.

Vietnam and the Netherlands cooperate to build a national brand for a sustainable seafood industry

 |  08:25 25/11/2025

(seafood.vasep.com.vn) On November 12 in Ho Chi Minh City, the Embassy of the Netherlands, in coordination with the Ministry of Agriculture and Environment, organized the Vietnam–Netherlands Business Forum under the theme “Shaping the future of sustainable aquaculture in the Mekong Delta.”

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