• The Journal of Fisheries Business Administration
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• v.50 no.1
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• pp.17-37
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• 2019

The purpose of this study is to estimate the resource recovery effect and the economic effect of the fishermen by the fisheries vessel buy-back program. First, this study standardizes the fishing efforts of coastal gill net, coastal trap, and coastal composite fisheries using Gavaris general linear model. Second, the resource evaluation is performed by using vessel buy-back program data, and also the CYP model based on exponential growth function is applied. In order to derive the effect of the vessel buy-back program, the MSY with the vessel buy-back program is compared with the MSY without the vessel buy-back program. Finally, we compare and analyze producer surplus under the equilibrium of the MEY and the OA using bioeconomic model. In conclusion, the vessel buy-back program has shown an increase in resource growth and economic improvement for the remaining fishermen. The result shows that the remaining fishermen are able to obtain an increase in producer surplus of about 53% due to the vessel buy-back program under equilibrium levels of the open access and the maximum economic yield.

• Ocean and Polar Research
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• v.39 no.3
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• pp.221-232
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• 2017

The purpose of this study is to estimate the extent of fisheries resource rebuilding and other economic effects on coastal gill-net fishery as a result of the Korean vessel buy-back program using with-without analysis based on methods estimating sustainable yields for all species caught by coastal gill-net fishery. Based on the results of with-without analysis, maximum sustainable yields (MSY) of all species caught by coastal gill-net fishery have been increased by the Korean vessel buy-back program. In addition, profits per vessel of maximum economic yield (MEY) of the species have been improved by the program. Further, yields and a producer surplus per vessel under an equilibrium of open access (OA) have increased because of the program. In detail, first of all, at the MSY level, the vessel buy-back program has led to about 21% fisheries resource recovery, and at the MEY level, it has led to about a 19% resource recovery. Secondly, at the MEY level and the OA level, the producer surplus per vessel has been increased by about 24% and 22% respectively by the vessel buy-back program.

• The Journal of Fisheries Business Administration
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• v.39 no.1
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• pp.163-194
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• 2008

This paper examines the efficacy of the vessel buy - back program implemented by the Korean government between 1994 and 2005. At the descriptive level, it is found that various factors of fishing efforts including power of vessels, fishing days and the number of employees increased during the program. The statistical analysis over the period 1981 to 2005 shows that the amount of weight and power of vessels tend to have a positive impact on the amount of catch with the number of vessels controlled. In particular, 1% increase in weight and power leads to $0.5%{\sim}1.4%$ and $1.0%{\sim}2.0%$ increase in catch, respectively. Therefore, the results suggest that the vessel buy - back program in Korea had contributed to reducing the catch but only as far as it reduced the weight and power of the vessels. As is consistent with the previous literature, it is indicated that the efficacy of vessel buy - back program may be limited by the fishermen's effots to increase the fishing efforts in terms of power of vessels, fishing days or number of employees.

• Ocean and Polar Research
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• v.38 no.3
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• pp.235-245
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• 2016

The purpose of this study is to estimate the Willingness To Payment (WTP) of sea-anglers regarding the increase in the abundance of fish resources resulting from the Korean vessel buy-back program using the contingent valuation method. Data was collected through sample surveys of 352 sea-anglers across the nation in 2015. If a 20% increase in the abundance of fish resources resulted from the vessel buy-back program, WTP estimates of sea-anglers per recreational fishing trip were 9,570 won on truncated mean, 16,528 won on mean, and 35,830 won on median, respectively. Additionally, when the number of annual total recreational fishing trips in Korea were estimated as 22,700 thousand trips, the annual increase in national welfare through recreational fishing was estimated to be 217.2 billion won on the truncated mean, 375.2 billion won on the mean, and 813.3 billion won on the median, respectively.

• The Journal of Fisheries Business Administration
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• v.33 no.1
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• pp.69-85
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• 2002

Reduction of fishing grounds, which was caused by the recent fisheries agreements between Korea, Japan, and China, Is Increasing the important of coastal fisheries. Korea's coastal fisheries, however, need special management measures owing to the following problems. First, there are too many fishing fleets even though fisheries resources are continuously decreasing. Despite the fact that some of the fishing vessels have been scrapped, there still remain too many vessels and especially approximately 27,000 vessels increased during 1997-1998. Second, as the condition of fisheries resources changed radically, many fishermen are fishing by methods which they were not permitted to. These fishing methods cannot be legally supported and so there is a huge gap between the system and the reality, Third, two or three licenses are given to each coastal fishing vessel because a single license cannot give sufficient income, but some of these are formally acquired. So under such circumstances, efficient management of fisheries is impossible. Fourth, absence of demarcation among regions and industries is causing frequent conflicts and there are concerns about the decreasing fisheries resources due to competitive fishing practices. Therefore, considering the above mentioned problems Korea's coastal fisheries management should be developed as the following: First, new licenses should be limited while expanding the buy-back program. The government is currently planning to limit new licenses by introducing the fixed license number system in coastal fisheries but is somewhat passive about the buy-back program. Second, fisheries management which is based on self-regulation should be established. In order to increase the effect of fisheries management, the fishermen should decide by themselves the fish and fishing methods they would be exploiting and directly regulate them. Third, it is necessary to integrate the licenses of coastal fisheries. Since coastal fisheries management through the license system has distinct limitations, it is preferable to unify risking licenses and let the fishermen decide specific matters on their own. Finally, it is necessary to establish boundaries among the regions and industries. Joint fishing areas among regions(cities and provinces) should be established and fishing in other areas should be permitted on condition of paying the required fees. On the other hand, it is also necessary to permit coastal fishing only within certain distances.

• The Journal of Fisheries Business Administration
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• v.55 no.3
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• pp.1-13
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• 2024

The purpose of this study is to examine the determinants of management performance in the remaining offshore fishing industry after the resource management-oriented fisheries structure improvement policy by the fisheries vessel buy-back program and Total Allowable Catch (TAC). The results of the analysis of the determinants of management performance of offshore fishing can be summarized as follows. First, based on the management performance determinant model of offshore fishing, it is confirmed that the government's resource-managed fishing structure improvement policy, such as the fishing boat reduction project and the TAC policy, is improving the management performance of the resource-managed remaining fishing boat. Second, looking at the specific management performance determinants based on the management performance model of offshore fishing, the leverage ratio (TLTA), which is the total debt ratio, shows a statistically significant positive (+) relationship with management performance, which increases management performance directly proportional to the leverage ratio. The increase in the leverage ratio (total debt ratio) was expected to lead to a high interest cost burden, resulting in a reverse (-) financial leverage effect; however, rather a positive (+) financial leverage effect occurred with a high profit covering interest costs. The total catch (TCATCH) has a positive (+) relationship with management performance at a statistical significance level of less than 1%, indicating that an increase in catch is improving or increasing the management performance of fishing companies. The selling price (UPRICE) shows a positive (+) relationship with management performance at a very high statistical significance level of less than 1%, and it can be seen that high fishing prices are a major factor in improving or increasing the management performance of offshore fishing. On the other hand, fishing vessel tonnage (TON), fishing vessel horsepower (RHP), and operating days (WDAYS), which indicate have a statistically significant negative (-) relationship with management performance, which deviates from the existing fisheries common sense that the size of fishing vessel tonnage and fishing vessel horsepower and the increase in the number of operating days is proportional to management performance. As a result of the increase in fishing vessel tonnage, horsepower, and the number of operating days, it was confirmed that the higher the fishing cost, such as oil costs, is worsening the management performance of fishing companies. Participation in TAC has a statistically significant positive (+) value with management performance, indicating that the remaining offshore fishing companies participating in TAC are improving or increasing management performance compared to offshore fishing companies that do not. Third, there are conflicting results depending on the industry as a result of estimating the management performance determinants of offshore fishing by TAC participation, and TAC participation had a negative impact on management performance in anchovy boat seine and southern west sea bottom trawl in fishing industry while TAC participation had a positive impact on management performance in large stow nets on anchor in fishing industry.