Korean and Japanese seafood make inroads into Vietnamese market

Abalone, frozen oysters, flounder, and other Korean delicacies are imported into Vietnam, while Japan imports into Vietnam some products including scallops, amberjack….

Imported frozen seafood from Korea and Japan is on the rise in Vietnam. These products are not only in high demand at Korean restaurants and eateries in Vietnam but are also gaining popularity among Vietnamese consumers due to their competitive prices compared to domestic products.

Mr. Kim Ki Hoon, a representative of the Ministry of Oceans and Fisheries of Korea, stated that Vietnam is the fourth largest trading partner of Korean food products and a close friend of Korea in terms of economy, culture, and bilateral relations.

“The demand for products like seaweed and canned tuna among Vietnamese consumers is increasing, similar to the Korean fondness for Vietnamese pho and bun cha,” Mr. Kim Ki Hoon said.

The Korea Seafood Festival was put on by the Ministry of Oceans and Fisheries of Korea’s Export Promotion Agency for Processed Products, AT Center, in association with the MM Mega Market Vietnam supermarket chain, to meet the rising demand for Korean cuisine in Vietnam.
MM Mega Market supermarkets will display and provide a large selection of seafood and seafood-processed items that are directly imported from Korea for 10%–20% off till the end of June 2024.

Mr. Nguyen Duc Toan, Director of Business Development at MM Mega Market, stated that the demand for Korean seafood is on the rise. The Korea Seafood Festival presents an opportunity for the supermarket to further promote Korean specialties to domestic consumers.

Meanwhile, Vietnam also represents a promising market for Japanese seafood as the number of Japanese restaurants continues to grow. Japanese seafood has gained market acceptance for its quality, freshness, and suitability for raw consumption.

According to statistics from the General Department of Customs, in 2023, Vietnam imported USD 170 million worth of seafood from Japan, equivalent to the figure in 2022.

As per the Ministry of Agriculture, Forestry, and Fisheries of Japan (MAFF), the Japanese government is implementing initiatives to promote the allure of Japanese seafood domestically and internationally, while diversifying export markets.

Mr. Toru Yoshimatsu, a representative of MAFF, stated that Vietnam has a long history of seafood processing factories. As a result, Japanese businesses are choosing Vietnam as a processing hub for exports to the United States, ASEAN countries, and beyond. Among seafood products, scallops, yellowtail and red sea bream are Japan’s primary export items.

In addition to the discounted imported products, domestic items are also being promoted by supermarkets through various campaigns to stimulate demand and enhance the competitiveness of Vietnamese products.

(Source: https://seafood.vasep.com.vn/)