Analysis of South Korea's Seafood Export Competitiveness : Comparative Analysis with Major Seafood Exporting Countries

Purpose: This study aims to evaluate South Korea's seafood export competitiveness using data from 2014, 2018, and 2023 by conducting a comparative analysis with major exporting countries. Through this evaluation, this study tries to identify tailored strategies to strengthen South Korea's competitiveness in the global seafood market. Research design, data, and methodology: This study employs three trade indices- Market Share(MS), Trade Specialization Index(TSI), and Symmetric Revealed Comparative Advantage(SRCA)- to assess export competitiveness. The analysis focuses on three product categories: frozen fish(HS code 0303), fish fillets(HS code 0304), and mollusks(HS code 0307). Data from Trade Map provided by the ITC, covering the period from 2014 to 2023, were used for a comparative analysis across countries. Results: The findings reveal significant differences in South Korea's export competitiveness across product categories. In frozen fish(HS code 0303), Korea demonstrates comparative advantage despite its low market share. In fish fillets(HS code 0304), low market share and comparative disadvantage requires the improvement of competitiveness. In mollusks(HS code 0307), Korea maintains export specialization, but its low market share and comparative disadvantage indicate the need for further efforts to enhance competitiveness. Conclusions: This study provides essential foundational data for policy development to enhance the export competitiveness of South Korea's seafood industry and suggests differentiated strategies for each product category.