Jeollanam-do Achieves 1.2 Billion KRW in Transactions on the 9th
Laying the Foundation for Price Competitiveness and Globalization
The scene at the daily dried seaweed market operated by Jeonnam Province on the 9th. Provided by Jeonnam Province
Jeollanam-do conducted a pilot operation of the 'One-Day Dried Gim Exchange' at the Jindo-gun Suhyup Local Food Center on the 9th, trading dried gim worth approximately 1.2 billion KRW. This initiative aims to foster the global gim industry, enhance price competitiveness, and lay the foundation for improving the distribution system.
Over 100 participants attended the pilot operation of the 'One-Day Dried Gim Exchange,' including representatives from the Ministry of Oceans and Fisheries, the Korea Dried Gim Producers Association, dried gim processing companies, and buyers (bidders).
Dried gim transactions have typically been conducted through direct contracts between processing companies, wholesalers, and exporters, resulting in unclear price formation. Additionally, market prices have been set regardless of quality, leading to calls for improvements in the transparency of the distribution system.
The 'One-Day Dried Gim Exchange' held on this day operated as a transparent trading system where sellers and buyers gathered in one place and participated in price determination through auctions (bidding).
In particular, prior to the full-scale operation of the 'International Dried Gim Exchange' currently being established at the Mokpo Marine Food Export Complex, this event served as a preliminary check to explore development strategies for dried gim transactions. The 'International Dried Gim Exchange' is expected to strengthen the global market competitiveness of Jeonnam dried gim and serve as a foundation to lead the world market.
For this transaction, 38 dried gim production companies presented seven types of products, and 30 buyers from 15 companies participated. After reviewing dried gim samples, buyers submitted their bids to the secretariat organized by the Korea Dried Gim Producers Association by the designated time. The successful bidder was selected as the buyer who submitted the highest bid above the base price set by the presenting company.
The winning bid prices ranged from 7,500 KRW to 13,500 KRW per bundle, with a total of 143,100 bundles traded, amounting to approximately 1.278 billion KRW.
To globalize K-Gim, Jeollanam-do plans to continue expanding the gim industry as a future strategic sector through initiatives such as: the establishment of the National Gim Industry Promotion Institute; improvement projects for dried gim processing plant facilities (30 billion KRW); the construction of an international dried gim inspection and exchange platform (23 billion KRW); and the designation and expansion of gim industry promotion zones (55 billion KRW).
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