Dried laver, called gim in Korean, is often used to make rolls and other dishes in both Korea and Japan.

Last year, local exports of gim to Japan surged 52 percent on-year to 87.7 billion won. The country accounted for 22 percent of all gim exports in the one-year period.

The total export deal reached in the latest meeting between producers and importers is 66 percent greater than what was secured in the annual gathering hosted by the Korea Fisheries Trade Association and Japanese importers.

The association has been hosting the meeting every year since 1995.

It said the rise in demand reflects shrinking production in Japan which has led to a sharp rise in prices.

"Such developments have sparked demand for high quality laver from South Korea," a source said.

The ministry, meanwhile, said that at the present pace, exports will reach a new record high this year. (Yonhap)