Seafood Prices Rise Ahead of Chuseok as Catches and Supplies Fall
Creatrip Team
22 days ago
Seafood prices in South Korea have climbed ahead of Chuseok (Korean harvest festival), affecting popular species from squid and cutlassfish to the nation’s favorite raw fish for sashimi, flatfish (gwang-eo) and rockfish (u-reok). Domestic catches have fallen—squid landings dropped 28.7% year-on-year—and imports like Norwegian mackerel have shrunk due to lower catch quotas, pushing mackerel prices up over 30%. Aquaculture has also been hit by repeated marine heatwaves (high sea temperatures), which caused mass die-offs and tightened farmed flatfish and rockfish supplies. The Ministry of Oceans and Fisheries plans to release about 20,000 tonnes of reserve seafood into the market and run discounts to stabilize prices, with government-supplied seafood up to 40% cheaper than retail.
