Gov't to provide 1.9 tln won in fisheries support funds in 2009

SEOUL, Jan. 4 (Yonhap) -- The government said Sunday that it has set aside 1.9
trillion won (US$1.4 billion) in support funds in the new year to help the
country's hard-pressed fishing industry.

The amount represents a 400 billion won gain from 1.5 trillion won provided last
year, with the bulk of the money to go to fishermen operating in inshore and
coastal waters, the Ministry for Food, Agriculture, Forestry and Fisheries said.
Of the total, 94 percent or 1.78 trillion won will go to help coastal fishermen
that usually operate small boats, with the remaining 120 billion won to go to
deep-sea fishing operators.
South Korean fishermen have been plagued by lower yields as stocks have depleted
worldwide due to over-fishing. Higher personnel costs and pricier fuel have also
taken a toll.
Qualified fishermen can borrow money from the government with an annual interest
rate of 3 percent and repayments to be made in 1-2 years.
The ministry said it will implement stricter measures this year to ferret out
people who do not wholly rely on fishing for their income. Those fishermen do not
qualify for the financial aid.
"These include government employees, those working for state-run companies and
people with non-fishing related income exceeding 30 million won," one official
said. Before these changes, people could receive money if they engaged in fishing
as a second job or to supplement their income.
The official added that Seoul plans to greatly expand relief funds to fisherman
who have suffered losses caused by natural disasters or a sudden drop in prices.
yonngong@yna.co.kr
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