Seasoned gim, or dried seaweed, merchandise are displayed inside a grocery store in Seoul, Sunday. Yonhap
Exports of seasoned gim, or dried seaweed, are gaining momentum as the USA — a serious international marketplace for the Korean product — started exempting it from tariffs final month, the federal government stated Sunday.
In accordance with the Ministry of Oceans and Fisheries, the U.S. authorities lifted a 15 % tariff on Korean gim, permitting it to enter the U.S. market at a zero % tariff beginning Nov. 13. The ministry added that the measure was a part of the joint reality sheet on a bilateral commerce and safety settlement following President Lee Jae Myung’s summit with U.S. President Donald Trump in October.
The joint reality sheet states that the U.S. intends to take away tariffs on sure pure sources that aren’t produced domestically, making seasoned gim a beneficiary of the coverage. Unseasoned gim, nevertheless, stays topic to a 15 % tariff in commerce with the U.S.
The U.S. has been a essential international marketplace for Korean gim, pushed by its reputation amongst American shoppers. Korean gim exports to the U.S. totaled $228 million by means of November this yr, up 15.9 % from a yr earlier. About 90 % of these exports have been seasoned merchandise — precooked with components similar to salt and sesame oil.
The U.S. accounted for 20 % of Korea’s international gim exports this yr. Complete exports to main markets together with China, Japan, Thailand and Vietnam reached $1.04 billion by means of November, marking a 13.3 % year-on-year improve. That is the primary time annual exports of the product have surpassed $1 billion, and the federal government expects the determine to hit a document $1.1 billion by year-end.
The Korean authorities stated it’s at present in talks with the U.S. to exempt Korean unseasoned gim and tuna fillets from U.S. tariffs.
Dongwon F&B, CJ Seafood and Sajo are among the many main Korean companies exporting gim. Main importers within the U.S. embrace distributors of Korean meals merchandise in addition to native firms that promote private-label gim equipped by these Korean companies.
