Gim Prices Soar 55% in 5 Years... The Essential Side Dish for Students Becomes a Luxury [Week+Money+Talk]

Unstoppable Popularity of Gim
Production Disruptions Feared Due to Rising Sea Temperatures
Gim Exports Surpass 1 Billion Dollars on Global Demand

Editor's NoteWe are living in a time when a single serving of pork belly costs 20,000 won and a bowl of Jajangmyeon is 7,500 won. The Consumer Price Index in 2024 reached 114.18 (2020=100), and in 2025, the burden on consumers' grocery baskets has grown further due to persistent high inflation. Through the "Week+Money+Talk" series, we aim to share stories about consumption that are closely tied to our wallets, alongside the ever-changing prices.

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The price of gim, often called "black semiconductors" and enjoying global popularity, has surged by approximately 55% over the past five years. Analysts attribute this price increase to worsening production conditions caused by abnormal weather, combined with a rise in global demand fueled by the spread of Korean content.

Gim Prices Rise Every Year... Impact of Abnormal Weather

According to the National Data Office on December 21, last month’s Consumer Price Index for gim was 154.84 (2020=100). This represents a 5.2% increase compared to the same month last year and a 54.84% increase compared to 2020. The Consumer Price Index for gim has shown a steep upward trend: ▲100.00 in 2020 ▲98.93 in 2021 ▲102.60 in 2022 ▲108.63 in 2023 ▲132.32 in 2024.

The main cause of the increase in gim prices is abnormal weather. Seaweed varieties, including gim, are sensitive to changes in water temperature. However, in recent decades, the acceleration of rising sea temperatures around Korean waters has raised concerns about production disruptions. The National Institute of Fisheries Science announced that from 1968 to last year, the surface water temperature in Korean waters rose by 1.58 degrees Celsius over 57 years, which is about twice as fast as the global average increase of 0.74 degrees. In particular, during this period, the surface water temperature in the East Sea rose by 2.04 degrees, significantly outpacing the West Sea at 1.44 degrees and the South Sea at 1.27 degrees.

Such changes in water temperature are cited as factors heightening the structural risks of gim farming. A paper published in the Korean Journal of Climate Change Research in October last year, titled "Risk Assessment of Seaweed Aquaculture under Climate Change Scenarios," stated, "Climate change is causing considerable damage and loss across the fisheries industry, and its impact is reported to be greater and more widespread than previously estimated." The paper further noted, "Although the probability of damage to gim from climate change was lower than that of kelp, the production cost was over six times higher, making gim the seaweed with the greatest estimated financial loss."

There have also been cases of damage caused by abnormal weather at gim production sites. Last month, gim farms in the Seocheon area of South Chungcheong Province experienced a phenomenon called "Hwangbaekhwa," where gim turned yellowish, leading to decreased productivity and quality. Hwangbaekhwa was observed across 3,156 hectares, accounting for 94.7% of the total gim farming area in Seocheon. This phenomenon mainly occurs when the concentration of nutrients such as nitrogen in seawater falls below the level required for growth. The prolonged high water temperatures and monsoon season into the fall exacerbated nutrient deficiencies, which has been identified as the cause.

Gim Exports Surpass $1 Billion for the First Time

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While supply conditions are deteriorating, demand is rising rapidly. Gim has gained international recognition through K-dramas and has expanded its consumer base as an eco-friendly health food, as well as a vegetarian and diet food. Furthermore, after the release of the Netflix animation "K-Pop Demon Hunters" in June, scenes of the main characters eating gimbap went viral, further boosting global interest in gim and gimbap.

This increase in overseas demand is reflected in export figures. This year, Korea's gim exports surpassed $1 billion for the first time ever. As of November 20, gim exports reached $1.015 billion (approximately 1.5 trillion won). Annual gim export figures were ▲$793 million in 2023 ▲$997 million in 2024, both falling short of the $1 billion mark, but this year the milestone was reached early. This is attributed to the improved quality competitiveness of Korean gim as well as the expansion of global demand.

Gim exports are expected to continue growing in the future. This is because export conditions are expected to improve further as tariffs on seasoned gim are lowered in the United States, where demand for gim is high. According to the Ministry of Oceans and Fisheries, the fact sheet on reciprocal tariffs released by the White House last month listed seasoned gim as the only duty-free seafood product. The U.S. market accounts for over 20% of Korea's gim exports, so the tariff reduction is expected to have a significant effect. However, dried gim, like other seafood products, will continue to be subject to a 15% reciprocal tariff.