Alongside the production target, the government aims to lift average fishing household income to KRW80m (US$56,000), grow seafood exports to US$4.2bn, cap annual seafood consumer price inflation at 3%, and attract 2,000 people a year back into fisheries and coastal rural areas by 2030.
To achieve this, the Ministry of Oceans and Fisheries (MOF) unveiled the Third Basic Plan for the Development of Fisheries and Fishing Communities, which sets out the direction of the development of Korea’s fisheries and fishing communities over the next five years.
The plan comes as Korea’s fisheries sector faces mounting pressure from several factors including climate change, labour shortages, and stricter global trade conditions.
At the same time, it is eyeing smart technologies and artificial intelligence (AI) as potential growth drivers for a sector that it believes is in need of structural reform.
Key pillars of reform
A central pillar of the strategy is the restructuring of capture fisheries to improve productivity and sustainability.
The government will introduce the concept of a “minimum essential fishing fleet” to safeguard food security while intensifying the decommissioning of low-productivity vessels.
This is aimed at increasing per-vessel production value from around KRW110m (U$76,340) currently to KRW600 to 700m (U$416,400 to 485,800), which is closer to levels in Norway, said the ministry.
Resource management will also be tightened through an expanded Total Allowable Catch (TAC) system. By 2030, TACs are expected to apply to most fishing sectors and species, supported by more advanced stock assessment systems and greater transparency in quota setting.
Aquaculture is set to play a growing role in meeting production and value targets.
Marine aquaculture sites will be gradually shifted from coastal waters to offshore areas, while new sites will be developed in the East Sea, where lower water temperatures offer greater resilience to heat stress linked to climate change.
Land-based smart aquaculture will be expanded for high value-added species with strong domestic demand, supported by regulatory reforms to encourage larger-scale and more automated operations.
The government also plans to strengthen the aquaculture supply chain, from seed to feed.
The full value chain of key species from breeding, seed development, production and distribution, will be industrialised.
In feed, stricter management of raw feed will be prioritised in the short term, with phased mandatory adoption of compound feed under consideration in the longer term.
To support downstream growth, the plan includes measures to stabilise raw material supply for seafood processors and introduce AI-based planned production systems that forecast output from juvenile stages to harvest.
The ministry also plans to identify the commercial opportunities for subtropical species that are becoming more common around Korean waters due to warming seas.
There are also plans to shorten supply chains and reduce costs through new Fisheries Production Centres and Fisheries Distribution Centres, alongside expanded online wholesale and auction platforms.
Additionally, supply-demand forecasting models will be developed to strengthen proactive price management.
On exports, the government is targeting diversification and higher value.
Oyster exports to Europe will be supported through tailored hygiene management of farming waters, while laver seaweed will see the introduction of a grading system and a new international exchange to enhance quality credibility.
The ministry also aims to expand production and increase value of tuna with traceability systems.
It also highlighted that it would support the production of “promising” exports such as olive flounder and abalone.
Lastly, the ministry strongly emphasised on revitalising fishing communities by lowering entry barriers for young people, expanding housing support, reforming fishing cooperative membership rules and stabilising incomes.
Fisheries-specific visas and expanded training programmes for foreign workers are also under review to address labour shortages.