South Korea Aims to Boost Laver Exports to $1.8 Billion by 2030

The government unveiled Thursday a set of measures aimed at upgrading South Korea's laver export supply chain amid the increasing global popularity of Korean laver products.

The Ministry of Oceans and Fisheries said it will work to improve the country's supply chain for laver exports in a bid to annually export US$1.8 billion worth of laver by 2030 on the back of the global popularity of Korean culture and cuisine.

Last year, South Korea exported a record $1.13 billion worth of laver products, up 13.7 percent from a year earlier. Laver, called "gim" in Korean, was the leading seafood export item, accounting for about one-third of the country's total seafood exports of $3.33 billion.

By 2030, global demand for dried laver is expected to reach 210 million bundles, the ministry said, noting that Korea's annual average of laver production currently remains at the 150 million bundle level. A bundle is equivalent to 100 sheets of dried laver.

To this end, the government will help the gim industry expand its cultivation capacity and lessen price volatility of the food item, while advancing the storage and supply chain system.

In detail, it aims to establish an international dried laver exchange to induce local producers farm high-quality gim and increase the value of Korean products, according to the ministry.