News Release Archive
FISHERIES/AQUACULTURE --KOREAN SEAFOOD BUYERS MISSION
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Nova Scotia's $12-million seafood business with South Korea is
growing after two days of meetings between local exporters and
South Korean buyers earlier this week.
As a result of the meetings, the Koreans bought more than
$550,000 of monkfish, and more orders are expected.
The meetings, which ended Monday, were co-ordinated by the
marketing division of the Department of Fisheries and
Aquaculture. They were designed to develop new business ties and
included five seafood buyers from South Korea and representatives
from 10 Nova Scotia companies.
Jim Barkhouse, Minister of Fisheries and Aquaculture, said with
the sale of the monkfish already completed, the meetings have
obviously paid off. He added the purchase of an under-utilized
species like monkfish is a great compliment to our more popular
exports like lobster and herring.
"There are 24 million people who live in South Korea and they eat
a lot of seafood," the minister said. "It is a great place to
sell our seafood, especially monkfish. In South Korea, it is very
popular."
Kim Jong-Hoon, who co-ordinated the trip from Seoul, agreed that
the potential for more exports and to develop more partnerships
is enormous. "These talks are a good starting point for all the
companies involved."
The liberalization of trade policies in the southeast Asian
country earlier this year has allowed the entrance of more
products into that market. In the past three years, Nova Scotia's
seafood exports to South Korea have tripled; in 1994, it was $4
million.
In 1996, Korea imported almost $900 million US of seafood
products from around the world. Less than two per cent of those
imports were from Canada. Fish products outsell every other
category of meat, from chicken to beef.
Along with their visit to Nova Scotia, members of the trade
mission also toured Quebec, New Brunswick, Prince Edward Island
and Newfoundland. They have now concluded their two-week trip.
The mission is a joint effort between the four Atlantic provinces
and Quebec and the federal Department of Foreign Affairs and
International Trade.
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Contact: Steve Warburton
Fisheries and Aquaculture
902-424-0192
ngr September 10, 1997 1:25 pm
