MOF’s Work Plan for 2022

A Marine Economy Leaping Forward, Delivering a Lively Ocean Community
On August 11th (Thurs), Minister CHO Seung-Hwan of the Oceans and Fisheries briefed the Korean president about the reversed world map, which effectively depicts the capacity and growth potential of Korea’s marine sector, and reported on the work plan of the new Ministry of Oceans and Fisheries.

For the next 5 years, the new Ministry of Oceans and Fisheries plans to focus on the implementation its four main strategies of ➊Sustainable fisheries, creating fishing villages where people return, ➋Building a world-leading marine logistics system, ➌Fostering a dynamic new marine economy, and ➍Clean oceans, creating safe coasts and 12 key initiatives thereof.

【Highlights of the Ministry of Oceans and Fisheries Departmental Report to Lead a New Marine Powerhouse】
I. Sustainable fisheries, creating fishing villages where people return
Enhancing the sustainability of the fishery sector, and improving the distribution and processing structure of aquatic products.
Expand the scope of TAC (Total Allowable Catch) to include up to 60% of total domestic production (29% as of 2021), accelerate the completion of the five smart aquaculture clusters currently in construction nationwide, and domestically produce and provide to consumers high value-added products, including Atlantic salmon, by 2025.
In consideration of the heightened hygiene expectations of consumers, transform the old seafood wholesale market fulfillment centers into hygiene-friendly modern facilities, and increase support for seafood exports to achieve export goals, including USD 1 billion in exports of the global entry product—Korean laver (USD 700 million in 2021).
To alleviate the consumer burden of recent living cost increases, flexibly release nationally stockpiled seafood, such as pollack stockpiles, depending on changes in market conditions and continue to focus on seafood win-win discount events until the end of the year, offering up to 50% discounts. Moreover, provide swift support for the oil-price linked subsidy for fishermen, a temporary program (June to October) introduced to lessen the burden on fishing operations following the recent spikes in oil prices.
Increasing the self-sufficiency of fishing villages with the Fishing Village New Vitality Promotion Project and the basic direct subsidy for providers of public benefit.
The Fishing Village New Vitality Promotion Project (details to be announced by September) will be fully rolled out to prevent the disappearance of fishing villages and to raise the vitality of fishing communities, through which 300 fishing villages throughout the nation will be classified into three categories of "hub-type", "standalone-type", and "maintained residence-type" projects and have their living conditions improved. In particular, the "hub-type" projects with a total investment of more than KRW 40 billion will trigger investments in the fishing villages by the private sector, which are expected to drastically improve the respective economies and living conditions.
To support stable incomes and effective business management of the fishing population, basic direct fishery subsidies for public benefit will be provided from next year for island and border regions, small fishing households, and fishing crew.
The Ministry plans to support investments in transportation vessels for 40 remote islands that were not guaranteed transportation rights due to a lack of passenger ship services and plans to provide transportation services to all islands that have no alternative means of transportation.
II. Building a world-leading marine logistics system
Shift the shipping market into a market-driven paradigm and reshape the role of the public sector.
Offer HMM shares held by the public institutions to the market in a phased approach and start to introduce the 'tax lease program' where boat investment taxes are discounted or waived to facilitate private investments in boats.
In addition, expand the ship funds of policy-focused financial institutions (USD 2.1→3.6 billion) to allow public institutions to prime investments in vessels and establish a professional vessel purchase and leasing company by 2026 to safeguard against economic downturns.
Automate port facilities and increase the added value of the port logistics sector.
Build a fully automated system that covers the entire unloading – transport - loading process based on 100% utilization of Korean technology for all domestic base ports, including Gwangyang Port (2026), and the Busan Port and Jinhae New Port (2029), and introduce high added-value port services, including LNG refueling facilities and repair shipyards.
Continue to provide support for Korean exporters until the resolution of current logistics challenges.
In order to overcome the global logistics crisis that has continued since 2020, continue to provide logistics support for exporters, including the supply of temporary vessels and the allocation of medium-term dedicated vessels for agricultural and marine products, and operate cargo storage dedicated to exporters at Busan Port.
III. Fostering a dynamic new marine economy
Focus on growing the promising new marine sectors of the future (including marine leisure and tourism, marine bio, and new marine transportation services) to create a KRW 15 trillion market.
Increase the number of base-type marinas and small mooring facilities to grow the marina industry and build marine healing centers to activate marine leisure tourism. Moreover, create integrated marine leisure tourism cities (draft masterplan in 2023) and fishing complex towns to contribute to the reinvigoration of local economies.
Nationalize core materials for the growth of the marine bio sector, and build growth hubs in the eastern, western, and southern regions (select locations in 2023).
Advance digital marine transportation, autonomous navigation, and eco-friendly vessel technologies as well as support the development of cutting-edge materials – parts – equipment technology* of vessels to enable Korea to take lead in the new marine transportation market.

* High manganese steel materials of international standard, localization of parts for ballast water treatment equipment, and equipment for the removal of living organisms from the hull

Boost research in polar regions and oceans to expand Korea’s global marine territories.
To leap forward as a leader in polar and oceanic research, strive for the construction of the world’s sixth inland base in Antarctica and construct a next-generation icebreaker research vessel (2026).
Fully engage in the technology development for commercializing undersea habitats, which could be used as subsea data centers or training facilities for divers and astronauts.
Revitalize investments in venture start-ups in the marine and fisheries sector to foster rising star ventures.
Expand regional start-up investment support centers into the coastal regions of the nation (from 7→11 centers) and scale-up the marine and fisheries funds of funds from KRW 300 billion to KRW 500 billion.
VI. Clean oceans, creating safe coasts
Build the framework for a nation where the marine ecosystem and people can coexist.
To protect our marine ecosystem, increase the marine protection zones up to 17% (9.2% in 2021) of the national sea area in phases, and drive for activation of regional economies through integration with eco-toursim, such as the launch of the National Maritime Garden in Garorim Bay.
To improve the welfare of marine animals, including porpoises and dolphins, which have recently gained much public attention, develop and distribute equipment to reduce by-fishing of mammals and return the Southern bottlenose dolphin (Bibong) and Beluga whales currently raised or exhibited in local aquariums back to the ocean.
Establish preventative systems for coastal disasters and reinforce the management of ocean space.
To respond to the risks posed by global warming, commence the implementation of a maritime forecasting and warning system which can notify the public of ocean disasters, including tidal waves and rip currents, at least 30 minutes before they arrive on land, and build buffer zones and disaster-safe ports focusing on coastal areas that are highly exposed to the risks of erosion and disasters.
Drive the development of offshore wind power, which has been in conflict with local fishermen, in an orderly fashion by involving the fishing population from the development stage, and improve conflict management regarding the utilization of ocean space by promoting the enactment of the legislation to define the maritime boundaries between local governments.
Minister CHO Seung-Hwan of the Oceans and Fisheries stated, “to become a new maritime powerhouse, (the Ministry) will secure the competitive global edge through the digitalization and smartization of the traditional marine and fisheries sector, including fisheries, shipping, and ports while actively identifying new growth engines in the new marine sectors, with a commitment for the new government to deliver tangible results.”