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Review of Fisheries in OECD Countries 2008: Policies and Summary Statistics

image of Review of Fisheries in OECD Countries 2008: Policies and Summary Statistics

This publication describes major developments affecting fisheries in OECD countries in 2004, 2005 and 2006, including changes in national and international policies, trade, and fisheries and aquaculture production. This edition contains a special chapter on Foreign Direct Investment in OECD fisheries.

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Korea

Fishery production in 2004 was 2 519 000 metric tonnes (mt) valued at KRW4 730 billion (USD 4 113 million), an increase of 32 000 mt (1.3%) from 2 487 000 mt in 2003, due to increased production in mariculture.

To address chronic overexploitation of marine fishery resources by over-capacity in coastal and offshore waters, a fleet reduction program known as the “General Buy-Back Program”, has been active since 1994.

Moreover, another buy-back scheme, the “Buy-back Program by International Agreements”, was introduced by the “Special Act for Supporting Fishermen Affected by International Fishery Agreements” which entered into force on 7 September 1999, and aimed to compensate fishermen for losses resulting from international fishery agreements, including agreements with Japan and China. In accordance with this Act, the Korean government scrapped 1 328 fishing vessels between 1999 and 2002, for which KRW 866.4 billion (USD 753.3 million) was spent by 2004.

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