Gim, the Korean seaweed snack also known as dried laver, is more expensive than ever—yet tons of its raw ingredient are being thrown away.
According to the National Federation of Fisheries Cooperatives, a total of 5,989 tons of raw seaweed were discarded last month at local fish markets in Jeollanam-do, Jeollabuk-do, Gyeongin, Chungcheongnam-do, and Busan. Despite this, dried gim prices have surged to 145 won ($0.10) per sheet, 55.5% higher than the average year, creating a puzzling paradox in the market.
The situation stems from a rush into raw seaweed farming as fishermen sought to cash in on record-high gim exports last year. Experts say this phenomenon once again highlights the structural weaknesses of S. Korea’s primary industries.
In S. Korea’s agriculture and fisheries sector, a familiar pattern repeats itself: when a product becomes popular, producers flood the market, driving up supply—only for prices to crash soon after. Experts argue that rather than blaming individual farmers and fishermen, systemic policy support is needed. This means that without resolving the current haphazard demand forecasting and reactionary measures, the cycle of overproduction and price collapses will continue.
The mismatch in supply and demand has led to an unusual price distortion in the nation: while raw seaweed prices have plummeted, dried gim prices have climbed. Typically, an increase in raw material supply would lower the price of the finished product, but gim has defied this expectation.
Most dried gim manufacturers are small businesses that can’t quickly expand their processing facilities," said a distribution industry official. “Because they can’t keep up with the sudden surge in raw seaweed production, much of it ends up being discarded, leading to market imbalances.
This seaweed price dilemma mirrors the recent decline of Shine Muscat grapes. Over the past five years, the cultivation area for the premium grape has more than doubled, causing prices to drop by nearly 40%.
As a result, overproduction and early harvesting have lowered quality, pushing agricultural cooperatives, producer associations, and local governments to step in late—cracking down on early shipments and searching for new export markets.
Experts stress that to prevent similar issues in primary industries, the government must conduct more precise market monitoring. Specifically, authorities should accurately predict cultivation areas and production volumes each year in advance, while also assessing how these factors will impact prices.
“It’s not fair to blame farmers and fishermen for trying to earn more money,” said Im Jeong-bin, a professor of agricultural and resource economics at Seoul National University. “The government should help control production by giving farmers and fishermen better price forecasts.”
