Scottish Salmon Sector Enthusiastic About New South Korea Free Trade Agreement

Scottish salmon farmers are poised for growth following the establishment of a new free trade agreement between the UK and South Korea. This deal is expected to significantly enhance Scottish exports, providing crucial support for the thriving salmon industry.

Tariff-Free Access to a Key Market

The agreement secures permanent tariff-free access for UK goods, a direct result of high-level negotiations between the UK and South Korean governments. Notably, Scottish salmon exports to South Korea skyrocketed from £214,000 in 2015 to a remarkable £2.25 million in 2019, prior to a downturn caused by the global pandemic.

Market Opportunities on the Rise

With recent export figures showing £366,000 in 2024, the free trade deal comes at a time when Scottish salmon farmers are eager to expand their presence in the Asian market. Exports to China surged by 60% and volumes sent to Taiwan more than doubled, contributing to record international sales exceeding £840 million. This growth solidifies Scottish salmon’s status as the UK’s leading food export.

Growing Demand for Scottish Salmon

Scottish salmon holds the title of the UK’s favorite fish, with sales soaring to £1.5 billion in the year leading up to August. The increasing demand further emphasizes the importance of the newly established trade agreement.

Industry Insights from Salmon Scotland

Tavish Scott, chief executive of Salmon Scotland, expressed enthusiasm about the trade deal: “We welcome the developments and the close ties on trade with South Korea. This deal will increase support in accessing the market and provide the opportunity for our exporters to deliver fish in pristine condition, with confidence, to consumers in South Korea.”

A Bright Future Ahead

“South Korea represents an important market within Asia where Scottish salmon has seen significant growth in recent years,” Scott added, highlighting the potential for further expansion in the region.

Image: Salmon Scotland