- To hold a meeting with major exporters of seafood products to the United States
The Ministry of Oceans and Fisheries (MOF; Minister Kang Do-hyung) announced on Thursday, June 12 that it would be holding a meeting with the seafood product export industry to listen to the difficulties it faces due to the strengthening of tariff and non-tariff barriers and seek countermeasures.
Earlier, MOF had formed the Inter-Ministry Task Force (TF) on Tariffs and Trade Issues Related to Seafood Products Exported to the United States—which involved the relevant ministries and local governments—to respond to US trade measures affecting seafood products. The task force began preparing comprehensive response measures.
Since the launch of the TF, MOF has collaborated with the relevant organizations to monitor the trade measures of major US agencies continuously. It is also preparing joint field investigations and institutional improvement measures with organizations regarding trade issues.
At the meeting with major exporters of seafood products to the US, MOF plans to discuss the following: ▲impact and outlook on seafood exports to the US; ▲impact on the Korean seafood export industry and major countermeasures; and ▲ways of collecting industry opinions and response measures.
In addition, based on the opinions discussed, MOF will prepare various support measures such as ▲providing real-time information on US customs policy trends, ▲strengthening collaboration with export support organizations to resolve the difficulties faced by export companies such as customs clearance refusals, and ▲expanding logistics support to ease the burden of exports.
Despite the difficult economic conditions such as declining exchange rate, slowing economic growth, and rising consumer prices in the United States following the US imposition of a 10% basic tariff on April 2 (with a 15%p individual tariff postponed until July 8), exports of Korean seafood products to the United States are rising.
In particular, overseas demand for gim (dried laver)—a major export item to the United States—has remained solid. The gim volume increased by 16.9% as of end of May (tentatively), and the export value increased by 19.6% compared to the same period in the previous year. Oyster and tuna exports also increased by 77.5% and 20.4%, respectively, due to the substitution effect from competitors such as China.
“This meeting was held to seek practical support measures to enhance export competitiveness and revitalize exports to the United States based on voices from the field. We will continuously examine closely the difficulties faced by the field and actively identify support tailored to the export industry,” Minister Kang Do-hyung said.