Korea's mackerel exports hit ironic high despite domestic shortages

Mackerel exports hit an all-time high despite a supply shortage in the domestic market, reflecting an ironic discrepancy in demand for different sizes of the fish between Korean and overseas consumers.

Packages of mackerel are seen at a retail store in Seoul on Jan. 2. [YONHAP]

Mackerel exports hit an all-time high despite a supply shortage in the domestic market, reflecting an ironic discrepancy in demand for different sizes of the fish between Korean and overseas consumers.

Korean mackerel exports reached an all-time high last year, while exports of squid from distant-water fishing also hit their highest level since 2016, according to the Korea Agro-Fisheries & Food Trade Corporation on Sunday.

The average retail price of a domestic, refrigerated large mackerel weighing 400 grams (14.1 ounces) or more was 4,689 won ($3.30) last year, up 16.9 percent from 4,012 won the year before. The price of a domestic squid rose 2.6 percent to 7,104 won, from 6,928 won in the same period. Government data also show that consumer prices for mackerel and squid rose by 10.3 percent and 3.7 percent, respectively, year-on-year.

Exports surged during the same period. According to the Ministry of Oceans and Fisheries and Korea Customs Service, mackerel exports reached a record 144,484 tons in volume and $260 million in value last year — an increase of 83.4 percent and 128.8 percent, respectively, from the year before. Squid exports also jumped to 31,457 tons and $113.4 million, up 87.8 percent and 48.7 percent year on year, marking the highest level since 2016.

Mackerel and squid are so scarce in Korea that they are being called "golden mackerel" and "golden squid." But differences in consumer preferences by region — particularly regarding mackerel size — have led to the high-export, low-supply situation.

Korean consumers prefer medium to large mackerel weighing more than 300 grams, as they are easier to prepare and meatier when grilled or braised. As a result, Korea has long relied on imports from Norway and Chile. But even imported mackerel has become more expensive due to a weaker won and rising exchange rates.

Dried seafood, including squid, is seen at a traditional fisheries market in Busan on Sept. 29, 2025. [YONHAP]

Leading Korea’s mackerel exports, on the other hand, are smaller fish that domestic buyers largely reject. Countries like Ghana, Nigeria and Côte d'Ivoire — which together make up about half of Korea’s mackerel exports — favor small mackerel, often using them whole for frying or smoking. They are also used as animal feed.

Squid follows a similar trend. Korean consumers prefer coastal-caught squid — especially for stir-fries and salads — but rising ocean temperatures have led to a steep decline in catch volume. According to the Korea Maritime Institute, only 96 tons of coastal squid were harvested in November, down 93 percent from the previous month and 66.4 percent year on year. From January to November, the cumulative coastal squid catch stood at 30,479 tons — more than double 2024’s record low of 12,756 tons, but still 15.7 percent below the five-year average.

By contrast, most exported squid is Illex squid, caught by Korean and Korea–New Zealand joint fishing vessels near the Falkland Islands. As of November, 40 vessels were operating in the area. A total of 53,595 tons of distant-water squid were brought into Korea during the first 11 months of the year — a 16.8 percent decrease from the same period in 2024, but 5.3 percent higher than the five-year average. In 2024, distant-water squid catches had doubled due to dense fishing grounds in the southwestern Atlantic.

“To stabilize domestic squid prices, we waive the 22 percent tariff normally applied to imported squid when it comes from joint ventures,” said Kang Dong-yang, director of the distant-water industry division at the Oceans Ministry. “Since Illex squid is popular overseas as well, this policy has likely contributed to rising exports.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom. BY KIM KYUNG-HEE [yoon.soyeon@joongang.co.kr]