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Regional Specialization and Economic Impacts of Aquaculture in Korea: An Analysis of Key Species

Asian Journal of Business Environment / Asian Journal of Business Environment, (P)2765-6934; (E)2765-7027
2024, v.14 no.4, pp.27-39
Jinwook JEONG (Pusan National University)
Tongju Suh

Abstract

Purpose: Thisstudy aimsto assessthe current state of aquaculture in Korea and evaluate regional competitivenessfor major aquaculture species: flounder, rockfish, sea bream, and yellowtail. It seeksto identify the unique characteristics of aquaculture across variousregions to enhance understanding of regional dynamics and industry trends. Research design, data and methodology: It utilizes Location Quotient, Shift Share Analysis, and combined analysis of the two methods to investigate regional specialization and growth factors in the farming of major aquaculture species. Data from the Fishery Aquaculture Trend Survey for 2018 and 2023 were analyzed, covering 30 administrative districts with detailed production values. Results: The analysis reveals varying regional specializations in aquaculture across Korea, with the East Coast showing high specialization in yellowtail but low in other species, and the South Coast demonstrating diverse specialization patterns depending on the region. It highlights that while the East Coast excels in sea bream and yellowtail, and the West Coast in rockfish, regional competitiveness for other species varies. Conclusions: It provides insights into regional variations in aquaculture specialization and competitiveness, identifying key regions for each species and offering a basis for targeted policy development. It suggests more frequent assessments to accurately monitor regional trends.

keywords
Aquaculture, Regional Specialization, Location Quotient, Shift Share Analysis

Asian Journal of Business Environment