The South Korean government has unveiled its Third Basic Plan for the Development of Fisheries and Fishing Communities, aiming to transform the country’s fisheries sector over the next five years. Key objectives include boosting average fishing household income to KRW80 million (approximately US$56,000), increasing seafood exports to US$4.2 billion, controlling seafood consumer price inflation at around 3% annually, and attracting 2,000 people back to fisheries and coastal rural areas each year by 2030.

As the fisheries sector grapples with challenges such as climate change, labor shortages, and stricter global trade regulations, the Ministry of Oceans and Fisheries (MOF) is turning to smart technologies and artificial intelligence (AI) to stimulate growth and structural reform.

Key Pillars of Reform

A cornerstone of the new strategy focuses on restructuring capture fisheries to enhance productivity and sustainability. The government plans to introduce a “minimum essential fishing fleet” aimed at safeguarding food security while decommissioning low-productivity vessels. The objective is to raise the per-vessel production value from around KRW110 million (US$76,340) to KRW600 to 700 million (US$416,400 to 485,800), aligning it with benchmarks seen in Norway.

Additionally, resource management will be strengthened through an expanded Total Allowable Catch (TAC) system, expected to cover most fishing sectors and species by 2030, bolstered by advanced stock assessment systems and improved transparency in quota setting.

The role of aquaculture is set to increase significantly in meeting production and value targets. Marine aquaculture sites will gradually transition from coastal waters to offshore areas, particularly in the East Sea, where colder temperatures provide resilience against climate change. There will also be a focus on land-based smart aquaculture, promoting high value-added species to meet domestic demand.

To enhance the aquaculture supply chain, the government will industrialize the entire value chain of key species from breeding to distribution. Stricter management of raw feed will be prioritized initially, with plans for a mandatory adoption of compound feed in the long term.

Supporting Downstream Growth

To bolster downstream growth, the strategy incorporates measures to stabilize raw material supply for seafood processors, alongside implementing AI-based production planning systems that forecast outputs from juvenile stages to harvest.

Commercial opportunities for subtropical species are also being explored, in response to warming seas that are leading to the emergence of these species in Korean waters. Furthermore, new Fisheries Production Centres and Fisheries Distribution Centres aim to shorten supply chains and reduce costs. The introduction of online wholesale and auction platforms will enhance market accessibility.

Additionally, the government plans to develop supply-demand forecasting models to enhance proactive price management in the seafood sector.

Focus on Exports

In terms of exports, the MOF aims for diversification and higher value. Key strategies include supporting oyster exports to Europe through tailored hygiene management of farming waters, establishing a grading system for laver seaweed, and developing traceability systems for tuna. The ministry also intends to aid in boosting production and value for promising exports such as olive flounder and abalone.

Revitalizing Fishing Communities

To revitalize fishing communities, the plan addresses barriers for young entrants by expanding housing support, reforming fishing cooperative membership rules, and stabilizing incomes. The ministry is also reviewing fisheries-specific visas and expanding training programs for foreign workers to combat labor shortages.

With these comprehensive initiatives, South Korea’s fisheries sector aims to not only overcome existing challenges but also pave the way for a sustainable and prosperous future.