With this result, the cumulative tuna exports to South Korea in the first 6 months of 2024 reached more than $14 million, a 144% increase compared to the same period. South Korea has become one of the 10 individual import markets for Vietnamese tuna.
According to Vietnam Customs statistics, in the first 6 months of this year, 15 enterprises are participating in tuna exports to this market. Leading them are Nha Trang Bay, Yueh Chyang Canned Food, and Trinity Vietnam, accounting for 86% of the total export value in the first half of 2024.
With a population of more than 51 million people, South Korea is currently a potential market for Vietnamese tuna exporters with a high growth trend from last year.
The Vietnam - Korea Free Trade Agreement (VKFTA), which took effect in December 2015, has provided a foundation to promote stronger and more effective economic, trade, and investment cooperation between the two countries. The two countries are participating in the Regional Comprehensive Economic Partnership (RCEP) agreement, and South Korea is considering joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which Vietnam is a member of.
Currently, South Korea mainly imports processed and canned tuna from Vietnam, accounting for up to 99% of the total export value. In particular, South Korea mainly imports frozen tuna loin. The trend of seafood consumption in South Korea is changing with a decrease in consumer spending, which is an opportunity for Vietnamese fishery to promote the export of seafood products at appropriate prices.
Similar to Japan, exporting to South Korea has the advantage of geographical proximity, stable consumption demand, and is a destination for many enterprises in the context of high inflation causing a sharp decline in consumption in Western markets.
While tensions in the Red Sea have caused a sharp increase in shipping costs to the US and Europe, nearby markets like South Korea have also attracted the attention of many enterprises. In particular, while South Korea is reducing tuna imports from other countries, it is increasing imports from Vietnam.
Navico, or Nam Viet Joint Stock Company, stands as one of Vietnam's pioneering enterprises in the farming, processing, and export of aquatic products, particularly pangasius (catfish). Established in 2000 in An Giang Province – the largest aquaculture hub in the Mekong Delta – Navico has solidified its position in the international market through superior product quality and a commitment to sustainable development. On April 4, 2025, Navico signed a green trade credit agreement with United Overseas Bank (Vietnam) (UOB Vietnam), marking a significant milestone in its journey toward green transformation.
According to the Board of Directors' report, IDI successfully maintained its traditional customer base in 2024 while expanding into high-potential markets, particularly the United States, benefiting from a significant reduction in anti-dumping duties.
Recently, Vietnam's La Vong fish cake was ranked number 1 in the list of the world's best white fish dishes by the world-famous culinary website Taste Atlas.
Currently, many households in the suburbs of Ca Mau City are implementing a fairly effective pangasius farming model, bringing in a stable source of income. Unlike the industrial scale in other provinces in the region, the pangasius farming model here is quite simple, low-cost, and is considered a promising direction for farmers.
Over 200,000 ha of Vietnam's shrimp farms are cultivated organically and ecologically, certified by international organizations.
Vĩnh Hoàn Corporation (stock code: VHC – HoSE) has outlined an ambitious business plan for 2025, targeting revenue of VND 13,800 billion (up 10.3% from 2024) and after-tax profit of VND 1,500 billion (up 22.3%). This follows a successful 2024, where the company recorded revenue of VND 12,513 billion (exceeding 109% of the plan) and after-tax profit of VND 1,226 billion (surpassing 123% of the VND 1,000 billion profit target). The 2025 Annual General Meeting of Shareholders is scheduled for April 24 in Ho Chi Minh City to discuss these plans.
Sa Giang Import-Export Corporation continues to assert its position as one of the leading export enterprises in Đồng Tháp, achieving a revenue of thousands of billions of VND from shrimp crackers and rice paper in the past year.
(seafood.vasep.com.vn) After three years of implementation, the UK-Vietnam Free Trade Agreement (UKVFTA) has yielded positive results for Vietnam’s tuna exports. The United Kingdom officially became a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on December 15, 2024. This is expected to bring significant benefits for seafood enterprises, particularly in terms of tariffs and intra-bloc origin regulations - especially for tuna products.
On March 3, Sa Giang and Citek officially launched a comprehensive enterprise digital transformation project using the GROW with SAP solution.
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