VKFTA was signed on May 5, 2015 and officially took effect from December 20, 2015. Compared with the ASEAN-Korea FTA (AKFTA), in VKFTA, Vietnam and South Korea offer more incentives to each other in goods, services and investment sectors. However, VKFTA does not replace AKFTA. Currently, both FTAs are valid and businesses can choose the FTA which is more beneficial.
According to South Korea's commitment in VKFTA, shrimp products exports from Vietnam to Korea from 20% tax rate will be reduced to 0% immediately after the Agreement comes into effect, including shrimp products HS code 0306161090, 0306169090, 0306171090 , 0306179090, 0306261000, 0306271000, 1605219000 (frozen cold-water shrimp peeled, shell on cold-water shrimp, other shrimp and prawn shrimps that have been peeled, shrimp and other prawn shrimps not peeled, live/ fresh/chilled cold-water shrimp, live/ fresh/ chilled shrimp and other prawn shrimp, shrimp and shrimp prawn are not airtight canned). The quota of duty-free shrimp from Vietnam to the Korean market reached 10,000 tons in the first year VKFTA took effect. Meanwhile, Thailand, Indonesia and Malaysia were only granted 5,000 tons of quotas. This opportunity helps Vietnamese shrimp easily compete and dominate the Korean market.
According to the commitment in the next 5 years from the effective date of VKFTA, Korea will raise Vietnam's shrimp export quotas to this market to 15,000 tons (an increase of 10% each year) and maintain the level of 15,000 tons from the 7th year onwards.
The mechanism of tariff quotas under VKFTA is applied in parallel with Korea's conventional tariff rate quotas (Harmonized System of Korea - HSK). Therefore, products subject to tariff quotas under VKFTA can still use tariff quotas under HSK when it expired under VKFTA.
From 2008 to 2013, Vietnam shrimp exports to Korea ranged from US$85 million to US$225 million. After VKFTA came into effect, from 2016 to 2018, Vietnam shrimp exports to Korea climbed from US$285 million to US$386 million. Although the increase was not much, it is clear that Vietnamese shrimp has maintained a stable position in the Korean market.
Vietnam is the largest supplier of shrimp to South Korea accounting for an overwhelming 50.5% market share while other competitors such as Thailand accounting for 9.6%, Ecuador at 13.5% and China at 5.2%. In the Korean market, Vietnam must to compete on price with China, India and Ecuador.
In the first four months in 2019, Vietnam shrimp exports to Korea reached US$94.6 million, down 20.6% compared to the same period in 2018. Shrimp exports to South Korea fell in the early months of this year in the context of the general decline in shrimp exports to major markets and the impact of declining in world shrimp prices.
There are many incentives from VKFTA. However, taking advantage of incentives have not been highly effective. Specifically, Vietnam is exempted from shrimp imports into South Korea with a quota of 10,000 tons/year, it will raise to 15,000 tons/year by 2020. However, currently Vietnam only use of 2,500 tons/year.
In order to improve the preferential utilization rate that VKFTA brings, Vietnamese enterprises need to raise the awareness of taking initiative in accessing information on VKFTA to select incentives suitable to the conditions of the enterprises while changing technology, development orientation of product in line with the needs of importer.
(seafood.vasep.com.vn) The year 2026 marks a period of strong growth for Vietnam’s tilapia industry, but it is also a time when international export competition is becoming increasingly intense. Vietnam’s tilapia exports reached USD 99 million in 2025, up 140% compared to the previous year. In the first four months of 2026 alone, export value reached USD 49 million, a 151% increase year-on-year. As global demand for affordable whitefish continues to rise, Vietnam is emerging as a noteworthy competitor to traditional tilapia powerhouses such as China, Indonesia, Brazil, and Egypt.
(seafood.vasep.com.vn) With continued policy support, technological innovation and close coordination among authorities, businesses and farmers, Vietnam’s pangasius industry is expected to make a strong and sustainable breakthrough during the 2026–2030 period, reinforcing its position as the world’s leading exporter of the fish.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s tilapia exports to Asian markets showed varying trends across regions and countries. The Middle East recorded strong growth, with Saudi Arabia emerging as the largest Asian market for Vietnamese tilapia. ASEAN markets also expanded significantly, driven primarily by Malaysia. Meanwhile, Japan maintained solid growth, while exports to South Korea declined compared to the same period in 2025.
(seafood.vasep.com.vn) Shrimp and pangasius continued to lead growth, helping seafood exports reach $4.67 billion in the first five months of the year; however, differentiation among product groups and increasingly stringent requirements from importing markets are posing many challenges for the industry.
(seafood.vasep.com.vn) Every day, the seafood processing industry in Ca Mau generates large quantities of shrimp heads and shells during processing operations. In the past, these by-products were largely treated as waste, increasing production costs and posing potential environmental risks. However, thanks to advanced processing technologies, materials once considered waste are now being transformed into high-value products, creating a circular economy model within the seafood industry.
(seafood.vasep.com.vn) Vietnam Clean Seafood Corporation has invested in a 280-hectare super-intensive shrimp farming zone in Tran De Commune, Can Tho City, generating export value of approximately VND 3 billion per hectare per year—around 50 times higher than traditional agricultural production.
(vasep.com.vn) Vietnam’s seafood exports reached USD 1.02 billion in May 2026, up 0.6% year-on-year. Cumulative exports in the first five months of 2026 totaled USD 4.67 billion, an increase of 11% compared to the same period in 2025.
(seafood.vasep.com.vn) In a rapidly changing global seafood market, timely insights and reliable data are more critical than ever. The Report on Vietnam Seafood Exports in Q1/2026 provides a comprehensive overview of the latest developments in Vietnam’s seafood production, trade performance, and export trends, helping businesses navigate uncertainty and identify new growth opportunities.
(seafood.vasep.com.vn) While many major markets continue to experience slow growth, Russia has emerged as a brighter destination for Vietnamese tuna exports in early 2026. Export turnover to this market increased by nearly 55% in the first four months of the year, indicating a clear improvement in demand. Nevertheless, Russia remains a market that should be viewed with both optimism and caution.
(seafood.vasep.com.vn) Vietnam’s pangasius exports have shown encouraging signs of recovery in 2026. In the first four months of the year, total export turnover reached USD 720 million, up 17% compared to the same period last year. This result reflects improving demand across many markets, as well as the efforts of Vietnamese pangasius enterprises to maintain production, secure orders, and adapt to changing market conditions.
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