Korean seaweed exports reach $1 billion...all-time high

South Korea's seaweed exports are expected to break an all-time record this year. The Ministry of Oceans and Fisheries announced on the 26th that seaweed exports this year will reach $1 billion, up 27% from last year.
As of October this year, seaweed exports have reached $850 million (about 1.2 trillion won, or 130.679 billion yen), already surpassing the record for the entire year of last year.
Korean seaweed's share of the global market is estimated to be over 70 percent. Seaweed exports fell from $110 million in 2010 to $790 million last year.
During the same period, the number of export destinations increased from 64 to 122. Major export destinations included the United States, Japan, Thailand, Russia, and China.
On the same day, the Ministry of Oceans and Fisheries held a commemorative event for the record-breaking seaweed export value at the Zettaplex Seoul Station branch of Lotte Mart, which is also a popular destination for foreigners, and demonstrated seaweed dishes.
Minister of Oceans and Fisheries Kang Do-hyeon said, "The government has been supporting the export of seaweed in all aspects, including production, processing and export. We will continue to promote Korean seaweed in the global market."
"We will also work to support production to stabilize domestic demand while adding value and strengthening export competitiveness," he said.
Last month, the government unveiled a comprehensive package of measures to strengthen the competitiveness of the seaweed industry. It also unveiled plans to try farming seaweed both in distant seas and on land.