- Applicants to the Program to Develop Leading Fisheries Organizations … Submissions start February 8th -

 The Ministry of Oceans and Fisheries announced its plan to receive applications from potential candidates willing to take part in the Leading Fisheries Organizations Development Program, which aims to improve Korea’s seafood exports, between February 8th to 24th.

 The Leading Organizations Development Program was rolled out in 2012 to revitalize exports by identifying and developing leader organizations for Korea’s core seafood items. The candidates are assessed for their export capacity and business size, where the selected companies will receive support of up to KRW 100 million for new entrants and up to KRW 250 million for businesses that continue to be included in the program.

 The selected organizations may engage in projects that are necessary for their business operations, which may include creating high added-value fisheries products, sophistication of production, building a base for seafood exports, exploring overseas markets, developing export-specialized items, and improving the efficiency of operational and management costs.

 In 2022, eight organizations were selected for inclusion in the program, where they received support to diversify overseas seafood markets, launch the Aquaculture Stewardship Council, and develop home meal replacements, where the supported businesses recorded roughly USD 180 million in exports.

 Director Park Seung-Jun, Head of the Export and Processing Promotion Division at the Ministry of Oceans and Fisheries mentioned that it is “essential to enhance the industry’s bargaining power in overseas markets in order to grow seafood exports and to develop export organizations of scale that can ensure stable supply through the Leading Fisheries Organizations Development Program” and that the Ministry “will continue to support the program to become the core stepping stone in developing leading seafood export organizations.”

Applications can be submitted via the official website of the aT Exporter Comprehensive Support System (http://global.at.or.kr) between February 8th to 24th.