Sinan-gun, Fishing Boat Rental Project Shows Strong Effects in Bringing Back Youth

Attempting a New Paradigm Shift in Fisheries Policy

Park Woo-ryang, the governor of Shinan County, is giving a greeting speech at the launching ceremony of the youth income rental fishing boat. (Photo by Shinan County)

[Asia Economy Honam Reporting Headquarters Reporter Seo Young-seo] Sinan-gun, Jeollanam-do (Governor Park Woo-ryang) held the postponed launching ceremony for four fishing vessels completed under the "Fishing Vessel Lease Project for Returning Youth," which has been conducted for the third year this year since its nationwide first implementation in 2019, on the 18th at Heuksando Island.

According to the county on the 21st, this project, which has been implemented only in Sinan-gun nationwide since 2019, is promoted to support young fishermen who want to engage in fishing but face difficulties due to circumstances by securing a fishing base. So far, 2.7 billion KRW of county funds have been provided to lease and operate eight fishing vessels, and this year, 500 million KRW of county funds have been secured to continue the project.

The project promoted by Sinan-gun involves the county purchasing fishing vessels and gear and leasing them to fishermen. The fishermen pay an annual lease fee of about 0.5% of the project cost and operate their fishing business. Once the lease payments and principal repayment are completed, ownership of the fishing vessels is transferred to the fishermen.

A Sinan-gun official stated, "In a recent demand survey conducted before advancing the project, 215 fishermen applied for 101 fishing vessels, showing high popularity. If promoted as a government policy project, it is expected that more young fishermen will benefit." He added, "With the implementation of the 2022 national subsidy project, it is anticipated that the economic downturn caused by COVID-19 will be overcome and the number of young people returning to fishing will increase."

Governor Park Woo-ryang said, "Our goal is to build a prosperous Sinan where young people return to the Angel Island, find jobs, and increase their income. We plan to continuously support fishermen and young people wishing to return to fishing so that the Angel 100 and Angel 200 vessels can be launched following Angel 8, making the island younger and a place where youth return."

Currently, leased fishing vessels include four in Heuksan, and one each in Bigeum, Jeungdo, Docho, and Haewi-myeon. So far, about 30 million KRW in lease fees and principal have been collected, and the sales amount has reached 750 million KRW.

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