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The Korean government tried to secure food safety by revitalization of seafood traceability system since there has been growing dissatisfaction toward of food system related to seafood in Korea. This study examines the consumers’ perspective on seafood traceability system and the value of seafood traceability in Korea using contingent valuation method. The model includes preference and recognition of respondents for the seafood traceability system, and socio-demographic characteristics. The result of the model shows that respondents think positively about seafood traceability system and it is expected that approximately $44.94 million can be generated annually from the seafood traceability system. The result implies that it is necessary to promote the system in order to make this system known, the benefit of which is helpful in food safety.