Fostering direction of the Ornamental Fish Industry in Korea through a competitive analysis of International Ornamental Fish Industry

Abstract

This research examined a task to foster into the export industry, through analyzing the competitiveness of the ornamental fish industry and identifying the position of Korea`s ornamental industry in the world. Ornamental fish in Korea holds the world`s leading aquaculture technology, but products are limited to a few species, lacking competitive products. In the case of aquarium supplies, the Korean technology level is receiving relatively positive marks in the global market, but ornamental fish products are lagging behind the global trend. In other words, Korea`s ornamental fish industry has the overall technical foundation, but lacks differentiation in the global market. Meanwhile, Korea`s market share of world trade market in fishery products is minimal. Growth was also analyzed not high compared to other countries. Various trade competitiveness index results rated very low in competitiveness, but it is hard to compare Korea with other countries which have already built a strong foundation in the ornamental fish industry. Therefore, for the mid to long term Korea should adapt a Choice and concentration strategy and focus on the production of ornamental fish and aquarium supplies, which will enable Korea to become differentiated in the global market and capture the world exports.