A seafood trade delegation from South Korea arrived in the Faroe Islands on Monday on a one-day trip amid efforts to boost trade relations between the two countries.
In the context of Faroese exports to South Korea, the main focus appears to be on Atlantic mackerel; other fish species, however, attract interest as well.
Led by Young-jin Yang, Director-General of the Fisheries Policy Bureau at the Ministry of Oceans and Fisheries (MOF), the South Koreans paid visits to two key mackerel producers as well as a major salmon farmer.
The event follows on the heel of a Faroese trade visit to South Korea in June. According to a Faroese official, the warm reception received by the Faroese in South Korea along with the swift reciprocal visit “underscores both sides’ commitment to deepening bilateral cooperation with a view to expanding trade—not least by facilitating market access for Faroese seafood.”
With representatives from the Ministry of Oceans and Fisheries as well as the Korea Maritime Institute (KMI), the National Federation of Fisheries Cooperatives (Suhyup), and private seafood importing companies, the South Korean delegation also visited the Ministry of Foreign Affairs and Fisheries in Tórshavn. The parties signed a Declaration of Intent concerning, among other things, cooperation and the development of exports of Faroese seafood products to South Korea.
Niels Winther, Director of the House of Industry (Vinnuhúsið), whom the South Korean delegation met with as well, stressed the ambition to establish a free trade agreement between the Faroe Islands and South Korea.
“The visit follows the Faroese trade mission to South Korea in June,” Mr. Winther said. “There appears to be genuine interest in purchasing Faroese seafood products and, over time, in further developing trade between the two countries.”
