The effect of the Korea-US free trade agreement on governance of the aquaculture value chain

Abstract

We present a value chain analysis of seafood exports from South Korea to major consumer markets in the United States, outlining the global value chain of oyster products from South Korea and its governance structure. A major issue faced by consumers is the lack of ability to determine where and how the seafood products are produced and processed. This can be addressed through standards set by the importing firm or country. In this article, we show that Korea–USA free trade agreement has led to development of high-capacity US-approved farms and processing facilities, and stricter standards have created a more efficient production and processing sector for exporting seafood products from Korea to the United States.