Wednesday, March 13, 2024 II 6:00-7:30 a.m. EST (Washington, D.C.)
7:00-8:30 p.m. KST (Seoul)
The Republic of Korea ranks first in the world with a 70.6% share of the global dried seaweed market, which is valued at $918 million dollars. Seaweed Production in the country increased an average of 7.1% a year from 370,000 tons in 2000 to 1.73 million tons in 2022. Exports have grown at an average annual rate of 8% over the past 10 years, while the number of importing countries almost doubled from 64 in 2010 to 124 in 2023. The scale of this success shows the tremendous benefits of strategic management of the seaweed value chain, shining a spotlight on exemplary production, distribution, marketing and export strategies for other countries seeking to expand into the sector.
The Ministry of Oceans and Fisheries of the Republic of Korea provides comprehensive support for the sector through concrete and systemic nurturing of seaweed products, especially nutritious laver, which is used extensively in culinary products. With advanced and well disseminated seaweed production policies, technology, and infrastructure, the industry also features an impressive framework for building adaptive measures and resilience to climate change and marine pollution.
Seaweed marketing and effective distribution is also a major focus of research at Republic of Korea’s Pukyong National University in Busan, helping to raise awareness, shaping perceptions of consumers, which ultimately contributes to higher seaweed profits. Strategic seaweed marketing has supported efforts to effectively penetrate the global market, showcasing the wide range of benefits available from seaweed, shifting perceptions and raising awareness of its value.
In this context, the World Bank Group AquaInvest Platform, funded by the PROBLUE Multi-Donor Trust Fund and Korea-World Bank Group Partnership Facility (KWPF) is hosting a webinar. Seaweed experts from the Republic of Korea will share insights into how they have positioned the country as one of the top seaweed producers in the world, and how other seaweed producing countries can draw lessons from its success.
Calendar » Strengthening the Seaweed Value Chain- Successes of the Republic of Korea in the Global Seaweed Market
Strengthening the Seaweed Value Chain- Successes of the Republic of Korea in the Global Seaweed Market
https://worldbankgroup.zoom.us/j/95702588202?pwd=TFduRXBXMTZSaGE3VDVVSndiejBBZz09
Meeting ID: 957 0258 8202
Passcode: .m2mrjFVc%
Wednesday, March 13, 2024 II 6:00-7:30 a.m. EST (Washington, D.C.)
7:00-8:30 p.m. KST (Seoul)
The Republic of Korea ranks first in the world with a 70.6% share of the global dried seaweed market, which is valued at $918 million dollars. Seaweed Production in the country increased an average of 7.1% a year from 370,000 tons in 2000 to 1.73 million tons in 2022. Exports have grown at an average annual rate of 8% over the past 10 years, while the number of importing countries almost doubled from 64 in 2010 to 124 in 2023. The scale of this success shows the tremendous benefits of strategic management of the seaweed value chain, shining a spotlight on exemplary production, distribution, marketing and export strategies for other countries seeking to expand into the sector.
The Ministry of Oceans and Fisheries of the Republic of Korea provides comprehensive support for the sector through concrete and systemic nurturing of seaweed products, especially nutritious laver, which is used extensively in culinary products. With advanced and well disseminated seaweed production policies, technology, and infrastructure, the industry also features an impressive framework for building adaptive measures and resilience to climate change and marine pollution.
Seaweed marketing and effective distribution is also a major focus of research at Republic of Korea’s Pukyong National University in Busan, helping to raise awareness, shaping perceptions of consumers, which ultimately contributes to higher seaweed profits. Strategic seaweed marketing has supported efforts to effectively penetrate the global market, showcasing the wide range of benefits available from seaweed, shifting perceptions and raising awareness of its value.
In this context, the World Bank Group AquaInvest Platform, funded by the PROBLUE Multi-Donor Trust Fund and Korea-World Bank Group Partnership Facility (KWPF) is hosting a webinar. Seaweed experts from the Republic of Korea will share insights into how they have positioned the country as one of the top seaweed producers in the world, and how other seaweed producing countries can draw lessons from its success.