South Korea Ocean Economy Market Size, Share, Trends, Industry Analysis Report By Industry Type (Marine Transport and Shipping, Marine Tourism and Recreation, Fisheries and Aquaculture), – Market Forecast, 2025–2034
Description
The South Korea Ocean Economy Market size is expected to reach USD 230.46 billion by 2034, according to a new study by Polaris Market Research. The report “South Korea Ocean Economy Market Share, Size, Trends, Industry Analysis Report By Industry Type (Marine Transport and Shipping, Marine Tourism and Recreation, Fisheries and Aquaculture); Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The ocean economy, also known as the blue economy, encompasses all economic activities related to oceans, seas, and coastal areas. It consists of traditional sectors such as fisheries, shipping, and offshore oil and gas, as well as emerging industries such as marine biotechnology, renewable energy, and deep-sea mining. Additionally, it encompasses tourism, maritime trade, and ecosystem services, including carbon sequestration and coastal protection. The ocean economy contributes significantly to the country’s GDP and employment while facing challenges such as overfishing, pollution, and climate change. Sustainable management is crucial to balance economic growth with ocean health, ensuring long-term benefits for communities and biodiversity.
South Korea’s ocean economy is a vital part of its national growth, driven by its strategic location and advanced maritime industries. South Korea is also investing in offshore wind energy and marine biotechnology to diversify its blue economy. The government promotes sustainable practices through policies such as the Ocean Korea 21 initiative, focusing on innovation, eco-friendly technologies, and coastal tourism. The market in the country faces various challenges such as overfishing, marine pollution, and territorial disputes. However, South Korea is actively working on marine spatial planning and international collaborations to enhance ocean governance.
South Korea Ocean Economy Market Report Highlights
In terms of industry type, the fisheries and aquaculture segment held 31.62% of revenue share in 2024 due to strategic emphasis on food security, rural development, and maritime sustainability.
The offshore oil and gas segment is projected to register a CAGR of 8.8% from 2025 to 2034, owing to increasing energy security concerns and the shift toward offshore exploration, particularly in deepwater and ultra-deepwater reserves.
A few major companies operating in the South Korea ocean economy industry include CJ Logistics; Dongkuk Steel Mill; HD Hyundai; HMM Co., Ltd; Korea Ocean Business Corporation; Pan Ocean; Samsung Heavy Industries; Sinokor Merchant Marine Co., Ltd.; and SM Line.
Polaris Market Research has segmented the South Korea ocean economy market report on the basis of industry type:
By Industry Type Outlook (Revenue, USD Billion, 2021–2034)
Marine Transport and Shipping
Marine Tourism and Recreation
Fisheries and Aquaculture
Offshore Oil and Gas
Government, and Others
The ocean economy, also known as the blue economy, encompasses all economic activities related to oceans, seas, and coastal areas. It consists of traditional sectors such as fisheries, shipping, and offshore oil and gas, as well as emerging industries such as marine biotechnology, renewable energy, and deep-sea mining. Additionally, it encompasses tourism, maritime trade, and ecosystem services, including carbon sequestration and coastal protection. The ocean economy contributes significantly to the country’s GDP and employment while facing challenges such as overfishing, pollution, and climate change. Sustainable management is crucial to balance economic growth with ocean health, ensuring long-term benefits for communities and biodiversity.
South Korea’s ocean economy is a vital part of its national growth, driven by its strategic location and advanced maritime industries. South Korea is also investing in offshore wind energy and marine biotechnology to diversify its blue economy. The government promotes sustainable practices through policies such as the Ocean Korea 21 initiative, focusing on innovation, eco-friendly technologies, and coastal tourism. The market in the country faces various challenges such as overfishing, marine pollution, and territorial disputes. However, South Korea is actively working on marine spatial planning and international collaborations to enhance ocean governance.
South Korea Ocean Economy Market Report Highlights
In terms of industry type, the fisheries and aquaculture segment held 31.62% of revenue share in 2024 due to strategic emphasis on food security, rural development, and maritime sustainability.
The offshore oil and gas segment is projected to register a CAGR of 8.8% from 2025 to 2034, owing to increasing energy security concerns and the shift toward offshore exploration, particularly in deepwater and ultra-deepwater reserves.
A few major companies operating in the South Korea ocean economy industry include CJ Logistics; Dongkuk Steel Mill; HD Hyundai; HMM Co., Ltd; Korea Ocean Business Corporation; Pan Ocean; Samsung Heavy Industries; Sinokor Merchant Marine Co., Ltd.; and SM Line.
Polaris Market Research has segmented the South Korea ocean economy market report on the basis of industry type:
By Industry Type Outlook (Revenue, USD Billion, 2021–2034)
Marine Transport and Shipping
Marine Tourism and Recreation
Fisheries and Aquaculture
Offshore Oil and Gas
Government, and Others
Table of Contents
129 Pages
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. South Korea Ocean Economy Market Insights
- 4.1. South Korea Ocean Economy Market – Market Snapshot
- 4.2. South Korea Ocean Economy Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising Consumption of Oil and Gas
- 4.2.1.2. Growing Seafood Demand
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Capital Investment Requirements for Infrastructure Development
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. South Korea Ocean Economy Market Trends
- 4.6. Value Chain Analysis
- 5. South Korea Ocean Economy Market, by Industry Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. South Korea Ocean Economy Market, by Industry Type, 2020-2034 (USD Billion)
- 5.3. Marine Transport and Shipping
- 5.3.1. South Korea Ocean Economy Market, by Marine Transport and Shipping, by Region, 2020-2034 (USD Billion)
- 5.4. Marine Tourism and Recreation
- 5.4.1. South Korea Ocean Economy Market, by Marine Tourism and Recreation, by Region, 2020-2034 (USD Billion)
- 5.5. Fisheries and Aquaculture
- 5.5.1. South Korea Ocean Economy Market, by Fisheries and Aquaculture, by Region, 2020-2034 (USD Billion)
- 5.6. Offshore Oil and Gas
- 5.6.1. South Korea Ocean Economy Market, by Offshore Oil and Gas, by Region, 2020-2034 (USD Billion)
- 5.7. Government
- 5.7.1. South Korea Ocean Economy Market, by Government, by Region, 2020-2034 (USD Billion)
- 5.8. Others
- 5.8.1. South Korea Ocean Economy Market, by Others, by Region, 2020-2034 (USD Billion)
- 6. Competitive Landscape
- 6.1. Expansion and Acquisition Analysis
- 6.1.1. Expansion
- 6.1.2. Acquisitions
- 6.2. Partnerships/Collaborations/Agreements/Exhibitions
- 7. Company Profiles
- 7.1. CJ Logistics
- 7.1.1. Company Overview
- 7.1.2. Financial Performance
- 7.1.3. Product Benchmarking
- 7.1.4. Recent Development
- 7.2. Dongkuk Steel Mill
- 7.2.1. Company Overview
- 7.2.2. Financial Performance
- 7.2.3. Product Benchmarking
- 7.2.4. Recent Development
- 7.3. HD Hyundai
- 7.3.1. Company Overview
- 7.3.2. Financial Performance
- 7.3.3. Product Benchmarking
- 7.3.4. Recent Development
- 7.4. HMM Co., Ltd
- 7.4.1. Company Overview
- 7.4.2. Financial Performance
- 7.4.3. Product Benchmarking
- 7.4.4. Recent Development
- 7.5. Korea Ocean Business Corporation
- 7.5.1. Company Overview
- 7.5.2. Financial Performance
- 7.5.3. Product Benchmarking
- 7.5.4. Recent Development
- 7.6. Pan Ocean
- 7.6.1. Company Overview
- 7.6.2. Financial Performance
- 7.6.3. Product Benchmarking
- 7.6.4. Recent Development
- 7.7. Samsung Heavy Industries
- 7.7.1. Company Overview
- 7.7.2. Financial Performance
- 7.7.3. Product Benchmarking
- 7.7.4. Recent Development
- 7.8. Sinokor Merchant Marine Co., Ltd.
- 7.8.1. Company Overview
- 7.8.2. Financial Performance
- 7.8.3. Product Benchmarking
- 7.8.4. Recent Development
- 7.9. SM Line
- 7.9.1. Company Overview
- 7.9.2. Financial Performance
- 7.9.3. Product Benchmarking
- 7.9.4. Recent Development
Pricing
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