"Abalone Surplus but Nowhere to Sell"... Wando County Declares Emergency with Production Cut Plan

Dismantling of Abalone Cage Farms
in Nohwa and Bogil Areas

South Jeolla Province's Wando County has launched a full-scale initiative to reduce abalone cage farms in response to falling prices caused by oversupply and to address the crisis in the fisheries industry.

According to the county on July 28, Wando, which accounts for about 70% of the nation’s abalone production, produced 16,341 tons of abalone from 2,303 farms across 3,186 hectares as of last year.

However, recent improvements in abalone seed stock have accelerated growth rates, and demand for smaller abalone in the market has surged, leading to a sharp increase in production. Nationwide abalone production more than doubled, rising from 10,494 tons in 2015 to 23,137 tons in 2024.

A combination of oversupply and economic downturn has caused abalone prices to plummet. The price per kilogram for 20-count abalone dropped from 22,000 won at the end of 2023 to 16,000 won in early April 2024. Unlike in previous years, when prices typically recovered in the fall after a summer decline, there has been no rebound since last autumn, intensifying the difficulties faced by fishers.

As a result, a consensus has formed among fishers to "reduce production to receive fair prices," prompting the county to implement the abalone cage reduction project. This project involves relocating abalone cages installed at sea to land, then dismantling and removing them. Some materials are recycled, while waste is entrusted to specialized disposal companies. The total project budget, including provincial funds, amounts to 1 billion won, and this year targets 4,385 abalone cages in Nohwa-eup and Bogil-myeon.

Kim Samho, president of the Wando County branch of the Korea Fisheries Businessmen’s Association, who participated in the cage removal work, stated, "Reducing cages is a difficult decision, as it means fishers are giving up their livelihoods, but it is an essential measure for the sustainability of the abalone industry. I hope more fishers will join this effort."

County Governor Shin Woochul said, "Although this year’s project focuses on the Nohwa and Bogil areas, from next year we plan to expand it to all towns and villages and continue it in the long term. We will spare no administrative support to help stabilize the abalone industry."