South Korea Ocean Economy Market Size Worth USD 230.46 Billion by 2034 | CAGR: 8.4%

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.

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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