Offshore eel trap industry suspends operations and implements self-restraint in South Korea

Published May 7, 2024

Tridge summary

The offshore eel trap industry has suspended operations and implemented a self-imposed furlough due to a significant inventory backlog of sea eels caused by a decrease in consumption. Fishing vessels have been ordered to cease fishing for 15 days from May 1 to June 15. Inshore eel trap fishermen are struggling with fishery management issues and have also suspended fishing, implementing voluntary furloughs. They are urgently requesting government support for an emergency sea eel purchase project to address the inventory backlog and a fish reduction project to enable normal fishing activities to resume.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The offshore eel trap industry announced a suspension of operations and implemented its own furlough. As coastal eel trap fishermen and brokers were unable to resolve the rapidly increasing inventory backlog of sea eels due to the severe slump in consumption of sea eels on the 30th of last month, all fishing vessels temporarily suspended fishing for 15 days each from May 1 to June 15. and went into self-imposed rest. Inshore eel trap fishermen were unable to overcome the ongoing fishery management difficulties and decided to suspend fishing and implement voluntary furloughs, and urged the government to ...
Source: Fisheco
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