South Korean fishing vessel reduction program faces supply shortages

The number of South Korean coastal fishing vessels applying for government reduction programs has more than doubled over the last two years, rising from 346 in 2023 to 753 in 2025. However, the actual rate of vessel reduction has dropped significantly from 60.4% to 31.5% during the same period.

During a National Assembly audit of the Ministry of Oceans and Fisheries, lawmaker Moon Geum-ju highlighted regional disparities in the program. While provinces like Gyeongsangnam-do, Jeollanam-do, and Chungcheongnam-do reported reduction rates below the national average, other regions such as Ulsan and Jeju saw much higher success rates.

In Jeollanam-do, the support scale is reportedly only 27.3% of the actual demand. Lawmaker Moon urged the ministry to improve the allocation of resources by considering regional fishing scales and application volumes to ensure the program effectively relieves management burdens on fishermen and helps restore fishery resources.