Vietnamese shrimp still dominate the Korean market

News 08:17 22/12/2022
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of November 15, 2022, Vietnam's shrimp exports to South Korea reached nearly $422 million, up 33% over the same period in 2021.

Vietnam's shrimp exports to South Korea have grown quite well since the beginning of the year with continuous positive growth rates from January to September. However, in October  the export value decreased slightly by 1% as enterprises are facing many difficulties such as high global inflation, reduced orders, and lack of production capital.

Vietnam's shrimp exports to South Korea in 2022 are more positive than in 2021 thanks to the advantage of geographical location. Like the Japanese market, South Korea is the preferred export market for enterprises in the context of high freight rates, record inflation and falling demand in the US and EU markets.

Vietnamese shrimp still dominates the South Korea market

Besides, Vietnamese shrimp exported to Korea enjoy preferential treatment under the Vietnam - Korea Free Trade Agreement (VKFTA) with a duty-free quota of 15,000 tons per year. According to the World Trade Center (ITC), in the first 10 months of 2022, South Korea's shrimp imports reached more than US$819 million, up 19% over the same period in 2021. In the Korean market, Vietnam accounted for the highest market share of 45% while other suppliers such as China, Thailand, and Ecuador accounted for 7.9%, 7.7% and 6.4% respectively.

South Korea shrimp imports, Jan-Oct 2022

(Million USD, Source: ITC)

Source

Jan-Oct 2021

Jan-Oct 2022

Change (%)

Total import

688,983

819,396

18.9

Vietnam

295,492

368,866

24.8

Canada

81,765

102,799

25.7

China

54,835

65,062

18.7

Thailand

81,921

63,735

-22.2

Ecuador

62,672

52,490

-16.2

Malaysia

32,001

34,577

8.0

India

11,164

18,171

62.8

Peru

20,200

52,380

159.3

As of October this year, Vietnam and China increased shrimp exports to South Korea by 25% and 19% respectively while the two main competitors of Vietnamese shrimp, Thailand and Ecuador, reduced shrimp exports to this market by 22 % and 16% over the same period in 2021.

Thai shrimp production this year faces many difficulties. Moreover, the price of Thai shrimp in the Korean market is less competitive than other competitors. Ecuador only focuses on exporting strongly to China, the US doesn’t focus much on exporting to Korea.

South Korea's economic growth in the coming time is forecasted better due to the easing of geopolitical tensions and the easing of China's zero-covid policy. China is currently South Korea's strategic trading partner. Trade relations between the two countries are on the rise along with trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Free Trade Agreement (FTA) between the two countries. Therefore, this will also be a good signal for Vietnam to increase shrimp exports to this market.

Compiled by Thuy Linh

Bạn đang đọc bài viết Vietnamese shrimp still dominate the Korean market tại chuyên mục News của Hiệp hội VASEP
vietnamese shrimp exports to south korea

TIN MỚI CẬP NHẬT

Vietnam’s fish cake and surimi exports show positive signs in early 2026

 |  09:49 20/04/2026

(seafood.vasep.com.vn) In the first two months of 2026, Vietnam’s exports of fish cakes and surimi exceeded USD 45 million, up 7% compared to the same period in 2025, indicating a positive outlook for this product segment amid recovering demand in many markets.

Quang Ngai ensures transparency in declaring seafood production.

 |  08:48 17/04/2026

(seafood.vasep.com.vn) During the week from April 4th to 10th, 2026, Quang Ngai province intensified its monitoring and law enforcement activities with the determination to eliminate illegal, unreported, and unregulated (IUU) fishing practices.

Thanh Hoa promotes high-tech shrimp farming

 |  08:41 16/04/2026

(seafood.vasep.com.vn) Thanh Hoa’s shrimp sector is undergoing a strong transformation by accelerating the adoption of high technology, helping to improve productivity, increase profits, and meet market demands. The province currently has about 4,100 hectares of shrimp farming, with output continuing to rise despite stable farming area, mainly due to the shift from traditional methods to intensive and super-intensive farming.

Vietnam’s crab exports brighten in 2026, but face pressure from reliance on major markets

 |  16:15 14/04/2026

(vasep.com.vn) Amid ongoing volatility in global seafood trade, Vietnam’s crab exports have made a fairly positive start to 2026. According to Vietnam Customs statistics, export turnover in the first two months of 2026 reached nearly USD 55 million, up 24% compared to the same period in 2025 and more than 2.2 times higher than in the same period of 2024. This indicates that crab exports are entering 2026 with stronger growth momentum, particularly in Asian markets.

Da Nang completes EC recommendations, accelerates efforts to lift IUU “yellow card”

 |  10:50 11/04/2026

(seafood.vasep.com.vn) Da Nang City has fully implemented all recommendations from the European Commission (EC) regarding the fight against illegal, unreported and unregulated (IUU) fishing, creating an important foundation for the removal of the “yellow card” in the near future.

Red tilapia farming opens up an effective economic development path in Da Nang

 |  10:42 09/04/2026

(seafood.vasep.com.vn) In Hoa Vang district (Da Nang City), red tilapia farming is demonstrating clear economic efficiency, becoming a promising livelihood that helps many households increase their income. A notable example is the model of Mr. Huynh Ngoc Nam, who operates two red tilapia ponds covering more than 4 hectares, generating stable annual income.

Ninh Binh promotes tilapia farming with a focus on high-quality seed

 |  10:30 06/04/2026

(seafood.vasep.com.vn) In Gia Vien district, tilapia farming—particularly the “duong nghiep” strain—is expanding rapidly and gradually becoming an efficient production model for local farmers. Hatcheries in the area are supplying high-quality, uniform, and disease-free fingerlings, meeting the growing demand for commercial farming.

Ca Mau promotes scaling up RAS-IMTA shrimp farming model toward sustainable development

 |  10:11 01/04/2026

(seafood.vasep.com.vn) On the afternoon of March 19, Vice Chairman of the Ca Mau Provincial People’s Committee, Le Van Su, chaired a meeting to address bottlenecks and propose solutions to expand the super-intensive whiteleg shrimp farming model using low water exchange and high biosecurity standards (RAS-IMTA).

Ho Chi Minh City approves aquatic animal disease prevention and control plan for 2026–2030

 |  10:07 30/03/2026

(seafood.vasep.com.vn) On March 10, 2026, the Ho Chi Minh City People’s Committee issued Decision No. 1377/QD-UBND approving the Aquatic Animal Disease Prevention and Control Plan for the 2026–2030 period. The decision takes effect from the date of signing and replaces previous plans for the 2021–2030 period that had been issued prior to the administrative merger in Ba Ria – Vung Tau, Binh Duong, and Ho Chi Minh City.

Chile’s tuna imports surge in 2025, can Vietnamese tuna accelerate?

 |  09:59 28/03/2026

(vasep.com.vn) In 2025, Chile imported more than USD 156 million worth of tuna, up 8.1% compared to the previous year and the highest level in the past five years. As the supply structure in this market is rapidly shifting, Vietnamese tuna is facing both opportunities to expand market share and increasing competitive pressure from Thailand, Colombia, and China.

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