Key fisheries news in 2024 selected by the Korea Fisheries Economy Newspaper

The article highlights the significant challenges the fisheries industry in Korea has faced due to climate change, with over 95% of sea squirts on the southern coast dying and causing concern for the future of aquaculture. In response, the Ministry of Oceans and Fisheries has developed a comprehensive plan to mitigate damage and build a climate-resilient production system, with goals set for fishery product production, fishing income, and consumer price index by 2030. Despite these setbacks, seaweed exports have reached a record high for the second year in a row, showing growth in the sector. The industry, however, has seen catastrophic losses due to high water temperature, affecting various marine life, and prompting calls for increased support. Additionally, the article covers administrative and legislative efforts, including amendments to the Prohibition of Solicitation Act, Constitutional Court rulings, plans to reduce fishing vessels, and revisions to the Agricultural and Fishery Products Distribution and Price Stabilization Act, aiming to stabilize prices and improve market competition. Furthermore, the National Federation of Fisheries Cooperatives is set to invest 50 billion won to address bad debts of member cooperatives, and the inauguration of the 19th Chairman and Executive Committee of the Korea Fisheries Management Association marks a new leadership direction for the industry.

This year, the fisheries industry has suffered greatly due to the climate change crisis. Due to the high temperatures in the summer, fish farms along the entire coast have been damaged, and in particular, more than 95% of the sea squirts on the southern coast have died, literally devastated, and there are concerns about next year’s crop. Although the outlook for next year is that it will not be easy socially and economically due to the global economic trends and domestic political situations, we are closing out 2024 with the expectation that good things will happen in the coming new year. While producing the year-end edition, we have selected the major fisheries news selected by the Korea Fisheries Economy Daily this year. The Ministry of Oceans and Fisheries announced the ‘Comprehensive Plan for Climate Change Response in the Fisheries and Aquaculture Sector’ at the meeting of ministers in charge of current state affairs. The Ministry of Oceans and Fisheries has prepared a ...