2024 Coastal Fishing Vessel Reduction Program Guide
The 2024 Coastal Fishing Vessel Reduction Program (3rd Round) aims to restructure coastal fisheries by reducing the number of aging or inefficient vessels. Eligible vessel owners can apply for financial support, including a business closure grant and residual value assessment, by submitting required documents to the Gyeongju City Hall Marine Fisheries Division during the specified August application period.
Key Takeaways
The program targets reducing coastal fishing vessels through financial support.
Applications must be submitted in person at Gyeongju City Hall by August 13th.
Eligibility requires owning a vessel for 3 years or meeting specific age/operation criteria.
Support includes a closure grant and residual value assessment based on vessel type.
Vessels older than 6 years are eligible; strict penalties apply for withdrawal or re-entry.
What is the 2024 Coastal Fishing Vessel Reduction Program?
The 2024 Coastal Fishing Vessel Reduction Program is a government initiative designed to optimize coastal fishery resources by reducing the number of operational fishing vessels. This third round of the program provides financial compensation to vessel owners who voluntarily retire their boats, thereby promoting sustainable fishing practices and improving the overall structure of the industry. The current budget allocates 100 million KRW, targeting the reduction of one vessel, though this quantity remains subject to budgetary adjustments. Successful applicants receive detailed financial support based on established criteria, ensuring fair compensation for their assets and business closure.
- The official program name is the 2024 Coastal Fishing Vessel Reduction Program.
- The current allocated budget is 100 million KRW, aiming to reduce one vessel (subject to change based on budget status).
- Financial support includes a business closure grant based on standard prices by fishery type and tonnage (Refer to Annex 1).
- Residual value assessment uses standard prices for the hull, engine, and fishing gear (Refer to Annex 2, based on 10 years of use).
When and where can I apply for the Vessel Reduction Program?
Applications for the 3rd round of the Vessel Reduction Program must be submitted within a strict seven-day window, running from August 6th to August 13th, 2024, excluding public holidays. It is crucial to note that only in-person submissions are accepted to ensure document verification and compliance. Applicants must physically visit the Marine Fisheries Division on the 5th floor of the Gyeongju City Hall during the specified period. Mail submissions will not be processed, emphasizing the need for timely, direct application and adherence to the submission guidelines.
- Application acceptance period is seven days, from August 6th to August 13th, 2024 (excluding holidays).
- The designated submission location is the Marine Fisheries Division (5th floor) at Gyeongju City Hall.
- Applications must be submitted exclusively via in-person visit; postal submissions are strictly prohibited.
Who is eligible to participate in the Coastal Fishing Vessel Reduction Program?
Eligibility primarily targets holders of fishing permits designated for reduction in the specific region. Applicants must meet stringent ownership and operational criteria, generally requiring continuous ownership under their name for the last three years. Alternatively, owners of vessels aged 35 years or older may qualify if they demonstrate at least 60 days of operation within the last year. Vessels must also be at least six years old. Certain exceptions exist for older or ill fishermen, and specific exclusions apply to those who previously received reduction support or submitted fraudulent documents.
- Must hold a fishing permit for a vessel targeted for reduction in the relevant area.
- Vessel ownership must be continuous for the last three years (or joint ownership by one person or more).
- Vessels 35 years or older must show proof of 60 days or more of operation in the last year.
- Vessels must have a minimum age (hull age) of six years (sub-vessels follow the main vessel's age).
- The minimum age requirement is waived if the vessel is sunk or severely damaged, resulting in residual value loss.
- Fishermen with low operational performance can participate but only receive the residual value assessment, not the closure grant.
- Exclusions apply to those who bought vessels without subsequent operation or received prior reduction support within the last five years (including immediate family).
How do I apply and what documents are required for the program?
The application process involves submitting a mandatory set of documents, including the application form, copies of vessel registration papers, fishing permits, inspection certificates, and the vessel register. Crucially, applicants must provide physical, printed photographs of the vessel from all four sides (front, back, left, right). If the vessel owner differs from the permit holder, a notarized agreement is required. The multi-step procedure begins with the submission, followed by the selection of candidates, residual value appraisal by two or more certified appraisers, and culminates in the final payment of the business closure grant and residual value.
- Mandatory documents include the application form (1 copy), vessel documents (registration, permit, inspection certificate), and the vessel register (1 copy).
- Required photographic evidence includes printed photos of the vessel from the front, back, left, and right sides.
- Conditional documents include a notarized agreement if the vessel owner is not the permit holder.
- Proof of operation (e.g., cooperative sales records or tax-exempt fuel usage) is required, based on the last one year of activity.
- The procedure involves 9 steps, including application submission, selection by the Mayor (considering budget and priority), residual value appraisal, final selection, and fund disbursement.
What factors determine priority selection and what are the post-program obligations?
Selection priority is given to vessels that maximize the program's impact on resource restructuring. Specifically, older vessels and those with larger tonnage are prioritized during the selection phase, as they typically represent a greater reduction in fishing capacity. Applicants must be aware of strict post-management rules. If an applicant withdraws after being selected, they must bear 100% of the appraisal and confirmation costs and are barred from participating in the program for the next three years. Furthermore, recipients of the closure grant are prohibited from re-entering the reduced fishery type for three years, with potential clawbacks if this rule is violated.
- Priority selection favors vessels with greater age (older vessels).
- Priority selection also favors vessels with larger size (higher tonnage).
- Withdrawal from the program incurs 100% liability for vessel confirmation and appraisal fees.
- Applicants who withdraw are prohibited from participating in the reduction program for three subsequent years.
- Recipients of the closure grant face potential clawback if they re-enter the same fishery type within three years.
Frequently Asked Questions
What financial support is provided through the vessel reduction program?
The program provides two main types of support: a business closure grant based on the vessel's fishery type and tonnage, and a residual value payment determined by an appraisal of the hull, engine, and gear.
Are there any exceptions to the required fishing operation record?
Yes. Fishermen with low operational performance can still apply, but they will only receive the residual value payment, not the closure grant. Also, fishermen aged 65 or older or those with illness have relaxed requirements.
What happens if I am selected for the program but decide to withdraw later?
If you withdraw after selection, you must pay 100% of the costs incurred for vessel confirmation and appraisal. Additionally, you will be banned from participating in the vessel reduction program for the next three years.
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