The Ministry of Oceans and Fisheries (MOF; Minister Kim, Young-Choon) announced “fishcake industry development plan” on Dec. 19, 2018 to grow the business into a 2-billion-dollar industry until 2030. 

○ Trend of fishcake industry: innovation-driven growth led by SMEs  

Fishcake business defies tough conditions to record double in the last decade in employment, sales and export. While renewing its highest values, the industry particularly achieved a noticeable level in job creation, 73% up to 11,300 from 6,500 in 2007. 

An example of “S” company, a market leader, encapsulates this positive trend: the number of its employees has 13.6 times increased for the last five years, particularly a 23-time upsurge into 207 for their 20s and 30s.  
 
The market has swiftly catched up with the switch of consumers’ favor to healthier and high-end products. Consequently, snack types of fishcake products, not side dish, have a large market share like fishcake bakery and noodles.

In addition, out of a heavy dependence on imported materials, repeated attempts to replace raw materials with domestic species including halibut, abalone, cuttle fish and snow crab have heightened an expectation of a boom in the fisheries.   

While export of fishcake skyrocketed to 57 million dollars in 2017 from 22 million in 2008, fish meat sausage went abroad 308 times more in the same period. 
 
○ Development plan: leveraging innovation-driven industry of fishcake to develop the fisheries 

MOF suggested development plan for the fishcake industry to take an advantageous position in the global market and unlock the potential of job creation. The ministry will accordingly implement 9 detailed tasks under the 5 strategies.

First, a sustainable supply system will be established for sources.

Business meetings for overseas raw materials will be arranged with a help of the export support center for fishery products. Also, a new system will come to provide timely information on local price and consumption trend of the materials. Joint purchase of the materials by SMEs will be financed and supported by industrial intermediation for stable purchase price.  

In addition, technology to use domestic fish will commercially viable soon including tilapia, catfish, halibut and sand fish; an industrial connection will strengthen between fish providers and the businesses to utilize damaged fish as raw materials when high temperature, cold wave and unusual price drop hit hard; and the storage facilities for joint use will be supported like quick freezer. 
 
Second, infrastructure for global competitive edge will be established. 
 
Benchmarking Japan, synergies will be amplified between fish-cake businesses, while fishcake innovative clusters will be created in 5 different regions to support development on regionally distinctive products. Infrastructure for processing and storage facilities will be built to supply sources using the conventional integrated equipment; and other supportive measures will be arranged including capital for business and joint venture. 
 
Also, opportunities for start-ups and employment will be offered further by nurturing experts on international fisheries and trade, providing fish-cake cooking class and open-type studio.

Third, high quality products will be developed.

Various types of the product will be promoted in an industry-institute collaborations, including no-additives product, locally special product and nutritious fish meat sausage. Also,  promotion halls for foreign tourists will be equipped at Busan International Port Passenger Terminal and duty free shops.   

In addition, techniques will be improved to identify fish species and place of origin using genetic information, while a system to classify the level of quality of sources will be created to encourage use of high-quality raw materials. Also, “good mark” will be granted to safety-verified products and block-chain technique will be introduced to supervise shelf life, source quality and traceability for customs clearance.     

Fourth, a tailored promotion to fish-cake dietary culture will be implemented for a globally beloved product. 

While more items will be registered at K‧FISH, the integrated brand for export of Korean fishery products, fish-cake businesses will be further encouraged to participate international fisheries exhibitions and export business meetings. Also, promotion work of the businesses will fully be supported including commercials and online contents with hosting fishcake tasting and hands-on experience events.
 
Also, export procedures will be enhanced with reduction lead time for export establishments registration and publication of casebook on failure of customs clearance.

Fifth, a scheme to support fishcake industry will be improved.

A consultation group for industrial improvement will be created consisting of businesses, research institutes and export supportive organizations. In addition, diverse supportive systems will be arranged by experts’ advisory body including business-tailored R&D provision, consultation for capital, talks with investor and strategies for each SME. 

The abovementioned plans will be leveraged to double the current-1 billion-dollar market in size and value until 2030 with 20,000 job creation and income growth in fishery community.

Director General Yun, Hyun-soo of Fisheries Policy Bureau stated that “As the first ever integrated policy, this development plan for the fish-cake industry targets strong foundation for the industry to develop into a global player. MOF is committed to innovation-driven growth of the fisheries with successful market expansion, job creation, income growth of fishery community and export increase.