Seoul: The oceans ministry announced plans to expand imports of mackerel through the tariff-rate quota system, alongside releasing government reserves to counter soaring prices. Starting this month, the Ministry of Oceans and Fisheries will release 2,000 tons of mackerel from its stockpiles at a 30 to 50 percent discount, while importing 20,000 tons with zero tariffs.

According to Yonhap News Agency, the tariff-rate quota system allows specific volumes of imports to benefit from lower tariff rates within a designated limit. Currently, the tariff on mackerel is set at 10 percent. The new quota marks a significant increase, doubling the 10,000-ton allocation from 2025.

Efforts are underway in South Korea to diversify mackerel imports from countries such as Britain and Chile, as production in Norway, which accounts for 80 to 90 percent of total imports, has declined.