New seaweed farm development, TAC introduced on a 3-year basis in South Korea

Starting this July, the Ministry of Oceans and Fisheries will issue new licenses for fish farms to stabilize seaweed supply and demand, and will introduce a three-year multi-year Total Allowable Catch (TAC) system. Looking at the fisheries sector in ‘This will change from the second half of 2024’ recently distributed by the government, the Ministry of Oceans and Fisheries decided to develop a new seaweed farm of 2,700ha in order to stabilize supply and demand by expanding supply as seaweed exports have recently been increasing. After issuing a new license in July, seaweed production is scheduled to begin in earnest in October once fish farmers go through cultivation work such as making and installing seaweed and seedlings. In addition, a multi-year TAC system will be introduced in which the Total Allowable Catch (TAC), which was previously applied to all fish species on a yearly basis, will be applied on a three-year basis. Accordingly, when TAC is insufficient due to a large ...