Oysters are on display at a supermarket in Seoul, November 2024. Yonhap

The Ministry of Oceans and Fisheries announced measures to foster the nation's oyster farming industry on Thursday with the aim of making Korea the world's largest exporter of the shellfish, in a bid to surpass France and China.

The announcement came after Korea's success with its dried seaweed exports, reaching 1 trillion won ($688 million) for two consecutive years.

According to the fisheries ministry, the size of the global oyster market was at $600 million as of 2022. In 2023, Korea exported $80 million worth of oysters, remaining the world's third-largest exporter of the shellfish, following France and China.

The government seeks to increase the size of outbound shipments of Korean oysters to $160 million by 2030, raising its production volume to 400,000 tons by 2030 from 300,000 tons in 2023.

In particular, the fisheries ministry will support Korean oyster exporters' expansion in the European market, where consumers prefer oysters served with shells. Such type of oysters are bigger and more expensive than those served without shells, which are more common in the Korean market.

With a plan to increase the proportion of the higher value-added type of oysters to 30 percent by 2030 from the current 1 percent, the ministry will persuade oyster farmers to produce more shelled oysters.

The ministry is also set to help oyster exporters increase their shares in the U.S. and Japanese markets, which currently account for 71 percent of Korea's entire oyster exports. Financing for oyster farmers to get international certifications was among the measures to promote exports as well.

Additionally, the ministry will push ahead with concentrating oyster-related industries and automating their production processes. Plans to promote domestic oyster consumption and prevent the inflow of pollutants to oyster farms were also included in the ministry's latest announcement.

"Because oyster is a globally popular seafood unlike other fisheries products, Korean companies can seize an opportunity for their global expansion," Fisheries Minister Kang Do-hyung said.