Gov’t to Tentatively Lift Tariffs on Imported Dried Seaweed

The government says it will tentatively lift tariffs on imported dried seaweed, called “gim” in Korean, amid a surge in prices resulting from a shortage at home. 

The Ministry of Oceans and Fisheries announced on Thursday that such tariffs will be exempted for 700 tons of dried seaweed and 125 tons of seasoned dried seaweed from Friday to September 30, or before the production season begins. 

Though gim production is being carried out smoothly, both wholesale and retail prices of the food product have surged due to a lack of inventory resulting from a rise in exports. 

Some observers have said it is uncertain whether the tariff exemption will effectively push down the prices as gim imports are low. 

Last year, the nation exported 35-thousand-446 tons of the seaweed product, up 16 percent from 2022 and up 42 percent from 2020 while gim imports amounted to merely 299 tons in 2023.