• Ocean and Polar Research
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• v.27 no.3
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• pp.323-333
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• 2005

The paper is to serve as a guide for deciding on a desirable direction for the vessel buyback program, reviewing their performance and economic effects from fish harvest reduction due to not reaching MSY. Compared with maximum willingness to pay for vessel buyback programs designed to avoid economic losses occurring as a result of overfishing, the portions of investment costs for buyback program are so small comparatively to the range of 0.32% to 12.19% at the annual base. The economic loss effects occurred in terms of the reduction of fishing harvest are comprehensively estimated at the present value of 30,877 billion won since 1971, and exceeded the revenues for fish harvests from 1999. In order to resole fish stocks through a vessel buyback program, this paper recommends that the yield should be reduced to less than the intrinsic growth rate. Otherwise, the buyback program policy eventually fails regardless of the temporal effect of benefits. This paper further argues that technical policy tools such as fishing grounds, fishing seasons, size of fish and minimum size of meshes should be effectively utilized.

• Ocean and Polar Research
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• v.27 no.3
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• pp.311-322
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• 2005

Fisheries buyback programs in Korea have been implemented since 1994, and their scales are estimated to be the present value of 930 billion won for the last 9 yens since 1994. The paper attempts to identify the patterns of each fish species, of which their yields can be steadily increased or significant]y decreased, and to evaluate its effective level and the optimal level for buyback programs by means of fishing capacity analysis. The paper distinguishes fish species, that there is no need to reduce the fishing efforts, such as anchovies, mackerels, squids, Spanish mackerels, and herrings, because MSY exceeds yields, from fish species to control overfishing such as file fish, yellow corvenias, young pollack, hair tail, snow crab, and pollack. The paper also suggests that 65% of the fishing efforts (total tonnages) should be cut back at the national aggregate level in order to restore fish stocks.

• Ocean and Polar Research
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• v.28 no.1
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• pp.25-35
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• 2006

Fisheries buyback programs have been implemented from 1994 in Korea, and its scale is estimated to have a value of 930 billion won, which is compounded for eight years since 1994. The paper evaluates the programs' economic and financial viability, and predicts efficient ways about how much and how long to reduce fisheries vessels so as to pursue a target biomass at MSY, For the specific purpose of the paper, aggregate fisheries stock dynamics and catch functions are specified and estimated by yearly catch and fishing effort data from 1970 to 2001, using ASPIC model and Schaefer's logistic production model. Results show that the fisheries stock in Korea has steadily declined since 1970, and that Korean fisheries overexploitation has steadily increased. Using cost-benefit analysis method, the buyback program holds the economic and financial feasibility even if the scale of buyback programs is not sufficient to avoid the downward trend in fisheries stock and harvest. The potential investment scale is predicted in several alternative scenarios using the sensitivity analysis method. The results recommend the annual reduction of 46%, 12% or 20% for the next one year, five years or three years, respectively so that the target biomass at MSY may be reached in 25 years.

• Ocean and Polar Research
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• v.28 no.4
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• pp.439-449
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• 2006

This study was aimed at measuring the fishing capacity of Powered Anchovy Drag Net Fisheries (PADNF) in Korea using Peak-to-Peak(PTP) and Data Envelopment Analysis(DEA) methods recommended by FAO. In the analysis, both fishing capacities of total PADNF and individual PADNF vessels were measured with time series data and cross sectional data, respectively. In addition, the results of the DEA measurement were analyzed in order to determine reduction levels of fishing capacity. In case of total PADNF, the results by rn and DEA methods showed a similar rate of capacity utilization (79%), indicating the capacity was not utilized enough. In addition, the sensitivity analysis suggested that the number of vessels should be reduced by 20%, and the gross tonnage and the horse power should be reduced by 20% and 21%, respectively if the current catch is to stay at the 2004 level. The DEA results on individual PADNF vessels indicated the capacity utilization was 75% on average, showing some differences in capacity utilization among vessels (31%-100%). The results of the study would be useful for measuring production efficiency in PADNF. They would also provide good policy information for efficient use of resources and capacity reduction levels, which are useful far vessel buyback programs of coastal and offshore fisheries.

• Journal of Fisheries and Marine Sciences Education
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• v.16 no.1
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• pp.124-141
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• 2004

This study focuses on the off-shore trawl fishery, specifically on its restructuring and new regulations governing its operation since the 1990s. This fishery has an important role in terms of fishing capacity and production amount and is dependent on close diplomatic relations with adjacent fishing countries. The off-shore trawl fishery has been shrinking since the 1990s. In addition to a decrease in stock and an increase in imports, there are vessel buyback programs and a decrease in fishing grounds related to a tri-lateral agreement among Korea, China and Japan which have sped up the shrinking of the fishery. In this processing, costs exceed the increase of revenue. Excess investments in fishing gear and salary for crews have lowered profits in this fishery. Considering the above, the off-shore otter trawl fishery should stop increases in production and restructure the fishery by coordinating fishing gear restrictions and fishing areas, and down-sizing management capacity.