Full-scale climate change response, 'TAC’ to be introduced to all fishing boats by 2028 in South Korea

Published 2024년 12월 6일

Tridge summary

The Ministry of Oceans and Fisheries in South Korea has unveiled a comprehensive plan to mitigate the impact of climate change on the fisheries and aquaculture sector. The plan, which aims to establish a resilient fisheries and aquaculture production system, includes expanding the Total Allowable Catch (TAC) system and introducing the Transferable Individual Quota (ITQ) system by 2028. Other strategies include transferring fishing licenses, introducing a bycatch management system, and relocating aquaculture farms. The ministry also plans to provide financial support and new income-generating opportunities for fishermen, strengthen the supply system of fishery products, and develop overseas fishing grounds and aquaculture fields.

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Original content

The total allowable catch (TAC) system, which sets and manages annual catches by 2028, will be expanded to all fishing vessels. On the 5th, the Ministry of Oceans and Fisheries announced the ‘Comprehensive Plan for Climate Change Response in the Fisheries and Aquaculture Sector’ containing these contents. Since last September, the Ministry of Oceans and Fisheries has been preparing the Comprehensive Plan for Climate Change Response in the Fisheries and Aquaculture Sector by forming the ‘Fisheries Sector Climate Change Response Task Force (TF)’. This plan presents three strategies with the vision of ‘establishing a fisheries and aquaculture production and supply system that is resilient to climate change’, with the goal of maintaining 3.7 million tons of fishery product production, achieving 65 million won in fishery income, and maintaining the consumer price index for fishery product price management items in the 2% range by 2030. ◆Flexibility of fisheries and aquaculture ...

Source: Nongmin