Salmon products are on display at a retail outlet in Seoul on March 13, 2022. (Yonhap)
SEOUL, July 3 (Korea Bizwire) — With growing national concern over the discharge of contaminated water from the crippled Fukushima Daiichi nuclear power plant in Japan, domestic companies have shown renewed interest in land-based salmon farming.
Global demand for salmon is increasing, but catches have declined due to global warming and the recent “contaminated water scare” affecting marine products.
GS Engineering & Construction Corp., a major builder in South Korea, plans to ship domestically produced farmed salmon by 2025.
The company initiated its smart aquaculture business with the country’s first recirculating aquaculture systems (RAS) salmon farming facility. The trial facility, located in Busan, is expected to be completed by late this year.
GS E&C’s decision to enter the salmon farming industry is based on its belief in the potential growth of the domestic salmon market.
Currently, South Korea imports all of its Atlantic salmon, with over 98 percent of the domestic chilled salmon originating from Norway.
Import volumes have been increasing.
According to the Ministry of Oceans and Fisheries’ Fisheries Information Portal, domestic salmon imports reached 42.6 million kilograms (US$357.7 million) in 2020, 62.7 million kilograms ($476.2 million) in 2021, and 76.6 million kilograms ($586 million) in 2022.
This data indicates a steady rise in both weight and value.
This photo, released by the Gangwon provincial government shows a salmon farming cage off Goseong on South Korea’s east coast.
GS E&C’s subsidiary, Eco Aquafarm, has been conducting test cultivation of salmon at the Busan Fishery Resources Research Institute.
The company aims to produce 500 tons of Atlantic salmon annually using eco-friendly energy facilities and automatic feeding devices powered by renewable energy.
Dongwon Industries, a company focused on tuna, is also entering the salmon farming business with a complex in Yangyang County, Gangwon Province, set to produce 20,000 tons of Atlantic salmon per year by 2025.
The land-based aquaculture facilities from GS E&C and seafood company Dongwon Industries Co. aim to boost the domestic fishery industry by offsetting the reliance on imported salmon.
With advancements in water treatment and information and communication technology, these smart aquaculture facilities promote healthy fish growth and water quality management.
Their efforts align with South Korea’s growing demand for salmon and a shift towards sustainable and locally produced seafood.
Lina Jang (linajang@koreabizwire.com)
