• The Incheon Port Authority (www.icpa.or.kr, President Lee Kyung-Gyu) announced on the 27th that there had been a significant increase in Incheon Port's seafood export volume* this year, witnessing a remarkable 76.6%** increase compared to the corresponding period in the previous year.

  * Source: Korea Trade Statistics Promotion Institute’s export and import statistics

  ** Incheon Port seafood export volume (1st to 3rd quarter cumulative): 8,609 tons in 2022 → 15,203 tons in 2023 (6,594-ton increase)

• The cumulative seafood export volume from Incheon Port for the first to third quarters of this year stands at 15,203 tons, marking the highest figure among all marine product exports from Incheon Port and registering the highest growth rate among the ports nationwide.

• According to IPA, the rise in seafood exports from Incheon Port is attributed to factors such as China's sanctions on Japanese seafood imports. The Incheon Port Authority's allocation of approximately 43,000 m² of port land to the fishing industry to bolster seafood exports, coupled with a reduction in annual usage fees totaling around 1.3 billion won, are also recognized as contributing factors. Exports to China constitute 85% of Incheon Port's total seafood exports. As of the first to the third quarter, Incheon Port recorded 12,929 tons of seafood exports to China, marking a noteworthy 90.5% increase* compared to the previous year.

* Fishery product exports to China (1st to 3rd quarter cumulative): 6,141 tons in 2022 → 12,929 tons in 2023 (6,788-ton increase)

• Examining the cumulative export volumes for the first to third quarters, 'Processed Fishery Products,' secured the top spot with 5,242 tons*, reflecting a 7.3% increase from the previous year. ‘Frozen Fish' followed closely in the second position with 4,873 tons in export volume**, reflecting a substantial 423% increase.

* Export volume of processed fishery products (1st to 3rd quarter cumulative): 4,888 tons in 2022 → 5,242 tons in 2023 (354-ton increase)

** Export volume of frozen fish (1st to 3rd quarter cumulative): 931 tons in 2022 → 4,873 tons in 2023 (3,942-ton increase)

• To sustain this positive trajectory, the Incheon Port Authority plans to implement the Incheon Port Freezing and Refrigeration Incentive System* targeting seafood exporting companies. In addition, there will be increased efforts to promote Incheon Port and Korean seafood products through seafood-related organizations and IPA overseas representative offices**

  * Recipients of the Incheon Port Refrigeration and Freezing Incentive: Shippers or forwarders who exported more than 20 TEU of refrigeration and freezing (REEFER) ‘loaded containers’ annually through the Incheon Port in 2023

  ** IPA Overseas Representative Offices: ① Shanghai, China ② Ho Chi Minh City, Vietnam

• Incheon Port Authority President Lee Kyung-Gyu remarked, "Even amid the rapidly shifting external landscape and apprehensions regarding a potential decline in seafood exports, the collaborative efforts of the fishing industry have enabled a growth in the volume of seafood trade at Incheon Port." He affirmed, "Our commitment remains steadfast, and we will strive to strengthen collaboration with relevant organizations to ensure the sustained increase in the export of domestic marine products through Incheon Port."