South Korea: Deep-sea fishing boat safety fund squid fishing boat departs Falkland fishing grounds

Deep-sea squid fishing boats, which have been dried as part of the deep-sea fishing boat safety fund support project, will go into operation at the Falklands Fishing Grounds in the Atlantic Ocean. There are three squid fishing boats: Ganamarin's 105 Geumyang, Haein Fisheries' 21 Eunjin, and Dongwonhaesarang's 805 Tongyeong. The 102 Geumyang, built in 1990, the 21 Haein, which was built in 1967, and the 303 Tongyeong, which were built in 1979, were replaced and built respectively, and it was promoted as a project to support the safety fund for deep-sea fishing boats. This project, which was introduced as a ‘deepwater fishing vessel safety fund’ in 2019, has created a fund worth KRW 85 billion (approximately KRW 170 billion including the private sector) by 2023 to support the alternative construction of old deep-sea fishing vessels. Until last year, it supported the alternative construction of two ships, and this time, three additional fishing boats for deep-sea squid fishing were ...