Norway and South Korea ink deal on closer seafood cooperation

Norway and South Korea are to cooperate more closely on seafood, after a new joint agreement was signed by the countries' respective fisheries and oceans ministers on 3 June.

Norway's Fisheries and Oceans Minister Marianne Sivertsen Næss visited South Korea at the beginning of June, and signed the new seafood agreement in Sejong together with South Korea's Minister of Fisheries and Oceans, Do-Hyung Kang.

"I am very happy that we are now strengthening the collaboration. South Korea is an important market for Norwegian seafood, especially for mackerel and salmon," Næss said in a press announcement.

The agreement contains points on cooperation and exchange of experience in fisheries, aquaculture and seafood trade.

"Norway and South Korea are both port nations and it is important that we share experiences and have regular dialogue. The collaboration agreement will facilitate even closer contact about these areas in the years to come," Næss added.

According to the Norwegian Seafood Council, South Korea is a "dynamic market" for Norwegian seafood exports, as a major importer of salmon, shellfish (especially snow crab) and pelagic fish.

In South Korea, Norwegian salmon dominates the salmon market with a market share of almost 90%, benefitting from both "tariff exemptions and streamlined health certificate procedures", according to the Norwegian seafood trade body.

In the shellfish segment, the Council's most recent figures show that Asian demand for Norwegian snow crab grew by 92% in value during May 2024.

"80 tonnes of frozen snow crab exported to the transit market South Korea, which was the largest import market in Asia in May, at an average price of NOK 190 per kg," said Marte Sofie Danielsen, Head of Shellfish at the Norwegian Seafood Council.