Yeosu City Provides Subsidies for Liferaft Equipment on Fishing Boats with 13 or More Passengers

Purchasing Possible by Paying Only 50-70% of Actual Price, Expected to Prevent Safety Accidents

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Yeosu City has stepped up to support the installation of liferafts, which are mandatory for fishing vessels with 13 or more passengers, in order to minimize casualties in fishing vessel accidents.

Accordingly, fishing vessel operators can now receive support for liferafts by bearing only 50-70% of the actual purchase price.

Through this project, fishermen operating the most common 9.77-ton class vessels with a capacity of 20 or more passengers, which require two liferafts costing over 2 million KRW each, will have their financial burden significantly reduced.

Yeosu City secured a budget of 254 million KRW in the supplementary budget last September and has completed the application process for subsidy support. The city plans to finalize the list of subsidy recipients this month after verifying eligibility criteria.

Subsidies will be provided differentially based on passenger capacity to fishermen who own fishing vessels with 13 or more passengers registered in Yeosu City as of the application date: 50% for 13-19 passengers, 40% for 20 passengers, and 30% for 21-22 passengers.

A city official stated, “We will continue to make every effort to prevent safety accidents to support safe fishing operations and protect the lives of fishermen.”

Meanwhile, according to the revised Enforcement Decree of the Fishing Management and Promotion Act in June last year, fishing vessels with 13 or more passengers must install liferafts. There are 178 such vessels registered in Yeosu City.

This content was produced with the assistance of AI translation services.