'Fleet reduction is core policy for sustainable fisheries'
Province previously retired 1,096 vessels; about 20 more targeted this round
Gangwon Province has made another policy decision to reduce its fishing fleet as declining marine resources continue to strain the industry's finances.
The provincial government announced Thursday it is investing a total of 10 billion won ($7.39 million) this year — 7 billion won from the national government and 3 billion won from provincial funds — to carry out a vessel and fixed-net reduction program for coastal and offshore fishing boats, aiming to adapt to changing fishing conditions and build a sustainable industry base.
The current round targets 14 coastal fishing vessels and one fixed-net operation. Two offshore vessels are also under consideration, with additional project funding expected to be allocated by the Ministry of Oceans and Fisheries after final selection.
Fleet reduction is a leading structural reform measure that lowers fishing pressure to help marine resources recover, while also supporting the financial stability of fishing operators and promoting ecosystem restoration.
Since 1997, Gangwon Province has invested a cumulative 137.6 billion won to retire 1,096 vessels — 189 offshore and 907 coastal fishing boats — as part of an ongoing effort to restructure the industry.
The Ministry of Oceans and Fisheries has revised and republished its implementation plan to select an additional 55 offshore vessels for retirement nationwide. Cities and counties across Gangwon Province are accepting applications for offshore vessel retirement through Oct. 6.
"The fleet reduction program is a core policy for sustainable fisheries," said Nam Jin-woo, director of the Gangwon Province Marine and Fisheries Bureau. "We will spare no effort to ensure it delivers both financial stability for fishing operators and a recovery of marine resources."
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