The Ministry of Oceans and Fisheries plans to invest 28.6 billion won ($20 million) in the projects over five years.
Pukyong National University and eight other institutions will focus on producing salmon substitutes from algae, while Ewha Womans University and its team were chosen to produce grilled seafood alternatives from shrimp and other fish species. Two other groups plan to process edible marine lifeforms.
The projects aim to develop source technologies and prototype products as part of the country’s efforts to gain an early foothold in the emerging alternative and synthetic seafood markets.
Alternative meat, also known as plant-based meat, is a substitute for regular animal-based meat, while synthetic meat refers to lab-grown meat produced by culturing animal cells.
According to an international consulting firm, Kearney, these markets could account for up to 60 percent of future meat markets.
Alternative food sources are viewed as potential solutions to address a global food crisis and cater to vegan diets. Several advanced nations, including the United States, France and Austria, have already ventured into the sector, with products such as shrimp fries made from powdered seaweed, seaweed-based smoked salmon and alternative salmon derived from seaweed.
