Photo: Union Forsea Corp.

British Seafood Takes Off in South Korea, Fueled by Mackerel Boom

SOUTH KOREA
Wednesday, May 21, 2025, 08:00 (GMT + 9)

Surge Driven by New Mackerel Trade and FTA Benefits, Reshaping Market Dynamics Despite Average Price Drop

SEOUL – United Kingdom seafood exports to South Korea have experienced an extraordinary surge in the first four months of 2025, recording a remarkable 247% increase compared to the same period last year. This dramatic expansion is significantly enhancing the UK's presence in the robust South Korean seafood market.

According to data compiled by Union Forsea Corp., South Korea imported 785 tons of UK seafood in April 2025 alone, marking an astonishing 397% rise from the 158 tons imported in April 2024. The cumulative import volume for January through April also soared to 1,726 tons, representing a 247% increase over the 497 tons recorded during the corresponding period in 2024.

Key Product Shifts Fueling Growth

Frozen mackerel stands out as a pivotal new entry. With no imports recorded during the same period last year, frozen mackerel imports reached a substantial 1,034 tons by April 2025, quickly establishing itself as a key product in the trade relationship.

Beyond mackerel, imports of frozen cooked whelk meat also saw a solid 31% increase, reaching 465 tons from 354 tons in the previous year. Frozen cooked whelk shell-on experienced even more dramatic growth, with imports surging by 286% to 82 tons from 37 tons. In contrast, imports of frozen herring roe decreased by 39%, falling to 44 tons from 72 tons.

Value and Price Dynamics

The import value of UK seafood has mirrored the volume increase. In April 2025, the import value hit USD 3.61 million, an impressive 181% jump from USD 1.28 million in April 2024. The cumulative import value for the January-April period also climbed to USD 17.26 million, a 247% rise from USD 4.97 million in the same period last year.

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However, the average import price per kilogram experienced a 33% decrease, settling at USD 6.45 from USD 9.64 a year prior. This reduction in average price is largely attributed to the significant shift in the product mix, specifically the substantial increase in imports of lower-priced frozen mackerel, which offset the higher price points of items like cooked whelk meat.

Drivers of the Surge and Future Outlook

The rapid surge in UK seafood imports is likely influenced by a combination of factors. These include the positive impact of the Korea-UK Free Trade Agreement (FTA), the proactive efforts of UK seafood companies to penetrate the South Korean market, and a growing domestic consumer preference for diverse imported seafood options.

An official from Union Forsea Corp. commented on the developments: "The rapid growth of UK seafood imports is expected to inject new vitality into the South Korean seafood market. However, it is necessary to continuously monitor the concentration on specific items and price fluctuations."

The long-term impact of this significant growth on the broader South Korean seafood market and the sustainability of these import trends remain key areas of interest for industry professionals worldwide.

Source: Union Forsea Corp.

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