'60 New Fishing Village New Deal 300 Project Sites Selected for Next Year Including Yeosu Yuchon Port, Tongyeong Madong Port, and Jangheung Sumun Port'

Ministry of Oceans and Fisheries Announces Selection Results for New Sites in 2021 Fishing Village New Deal 300 Project

Selected a total of 300 sites by 2022 with an investment of 3 trillion KRW
60 sites selected for next year's project to receive 600 billion KRW over 3 years

Location map of the 2021 Fishing Village New Deal 300 project sites.

[Sejong=Asia Economy Reporter Joo Sang-don] Sixty sites including Yuchon Port in Yeosu, Madong Port in Tongyeong, and Sumun Port in Jangheung have been selected as new target sites for the 2023 Saeun New Deal 300 project.

On the 9th, the Ministry of Oceans and Fisheries announced that the new target sites for the 2021 Saeun New Deal 300 project had been selected as such.

The Saeun New Deal 300 project, first launched last year, is a project aimed at revitalizing the fishing village economy by modernizing essential infrastructure such as outdated piers for innovative growth of fishing villages and promoting specialized development utilizing various local resources.

The Ministry of Oceans and Fisheries plans to select a total of 300 sites by 2022 and invest about 3 trillion KRW (2.1 trillion KRW in national funds and 900 billion KRW in local funds) by 2024. Currently, projects are underway at 70 sites selected in 2019 as the first project targets and 120 sites selected in 2020.

To select the project sites for 2021, the third year of implementation, the Ministry announced the call for applications in May and accepted submissions in September. Eleven cities and provinces and 57 cities, counties, and districts applied for 236 sites, recording a competition rate of 3.9:1. Afterward, a separate joint public-private evaluation team conducted document and field evaluations, and a joint public-private evaluation committee conducted a comprehensive evaluation to finally select 60 sites.

The regional distribution of next year's project sites is ▲19 in Jeollanam-do ▲11 in Gyeongsangnam-do ▲6 in Chungcheongnam-do ▲5 in Gyeongsangbuk-do ▲5 in Jeollabuk-do ▲4 in Gangwon-do ▲3 in Jeju ▲3 in Incheon ▲2 in Busan ▲1 in Gyeonggi-do ▲1 in Ulsan. The project budget is an average of 10 billion KRW per site, with a total of 600 billion KRW (420 billion KRW national funds and 180 billion KRW local funds) to be invested over three years.

The characteristics of the projects selected for next year include ▲supply of community-based living social overhead capital (SOC) ▲fishing village specialized development utilizing local resources ▲revitalizing fishing villages through regional regeneration.

First, the Yuchon Port regional council in Yeosu, Jeollanam-do is an example of community-based living SOC supply. Reflecting local voices, the project plans to improve the poor maritime transportation infrastructure of the fishing village by reinforcing the pier, expanding the waiting room, installing safety facilities, and creating convenience facilities for residents, thereby enhancing the convenience of maritime transportation and improving accessibility and living conditions in the fishing village.

Madong Port in Tongyeong, Gyeongsangnam-do will pursue fishing village specialized development utilizing local resources. By leveraging unique local assets such as natural scenery, cultural heritage, and local specialties, differentiated specialized projects will be discovered to create new income bases such as marine tourism and leisure, injecting new vitality into the fishing village economy. To this end, village enterprises led by local residents will promote resident-participatory income projects such as local specialty product sales, mudflat experiences, marine leisure experiences, tourism service support, and operation of guesthouses and campgrounds to increase residents' income and revitalize the fishing village economy.

At Sumun Port in Jangheung County, Jeollanam-do, which has been stagnating due to population decline and aging, the plan is to expand infrastructure such as startup platforms and facilities to promote the influx of returnees to fishing villages, and to implement resident capacity-building projects to establish a sustainable fishing village regeneration foundation.

Minister of Oceans and Fisheries Moon Sung-hyuk said, "As the Saeun New Deal 300 project enters its third year next year and continues to receive much interest and participation from fishing village residents, we will strive to achieve visible results through solid project implementation next year and build a successful fishing village and fishing port regeneration foundation to revitalize fishing villages."

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