Economics of Rebuilding Fisheries in Korea

The newly established fisheries rebuilding plan and its fisheries management policy are meaningful because they realize the limitations of the conventional fisheries management policy and change the policy focus by shifting the objective of fisheries management policy from the maintenance of fishery order or fishery adjustment to fish stock recovery. In addition, the establishment of a FSRP that can more effectively and quickly recover the fishery resources through controlling individual resources based on the creation of an ecological system through traditional stock enhancement programs is also meaningful. Furthermore, preparation of a new management system for ecosystem-based recovery of fishery resources and the promotion of participation of fishermen by connecting with traditional self-management fisheries can also be considered as important. This new fisheries management policy could satisfy international recommendations including the 1995 FAO Code of Conduct for Responsible Fisheries, so a prospect is that the policy could make a strong contribution to the management and rebuilding of domestic fish stock.