South Korea Explores Economic Potential Of Salmon Farming

Salmon is a notoriously difficult fish to farm.

South Korea has found a potential new business in farming salmon as it has become the first Asian country to successfully do so, according to the Korean publication Yonhap News.

“Asian countries have not been able to raise salmon at fish farms because of the high water temperatures during the summer months,” stated the Ministry of Oceans and Fisheries.

Donghae STF Co., a local aquaculture firm, has reportedly been raising around 10,000 silver salmon at an enclosure 5 kilometers off the country’s eastern coast since late last year. The fish are reportedly being raised at the ideal water temperature of 15 degrees celsius.

Achieving this specific temperature takes effort, as the firm reportedly created an enclosure system that has been patented so that it can be moved up and down in the water.

The recent achievement is expected to help South Korea economically as it reduces imports and leads exports in the long run, according to the publication Under Current News.

“With the success of salmon fish farming, upwards to 800 tons of high quality fish that will be fresher, taste better and be 20-30 percent cheaper than imports can reach the market," Oh Woon-yul, general director of fisheries infrastructure at the ministry, said.

Last year, South Korea reportedly imported around 22,810 tons of salmon from different countries, including Norway and the United States.

Besides South Korea, only six countries have reportedly succeeded in fish farming salmon thus far. Japan, which has been fish farming salmon for many years, reportedly produces fish that are 6-7 month old, which is several months short of being commercially viable.

Full fledged sales of Salmon in South Korea will reportedly start in November 2016.

The first batch of salmon shipments from the farm, which will help gauge market reaction, will reportedly take place next month, according to the ministry.