Japan Allocates 300 Billion Won Budget for Fisheries Support in Preparation for Fukushima Contaminated Water Discharge

[Image source=EPA Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] The Japanese government is hastening support measures for its fisheries industry ahead of the anticipated release of contaminated water from the Fukushima Daiichi Nuclear Power Plant, expected to begin in spring 2023.

According to Kyodo News on the 24th, Japan's Ministry of Economy, Trade and Industry has reportedly finalized plans to allocate 30 billion yen (approximately 309.6 billion KRW) in a supplementary budget to establish a fund supporting the expansion of sales channels for seafood products.

The fund is expected to be used for projects aimed at preventing damage to Japan's fisheries caused by the release of contaminated water from the Fukushima nuclear plant and supporting the expansion of sales channels.

For example, the Japanese government is considering support measures such as temporarily purchasing or storing frozen seafood on the condition that it is not returned.

It is also reported that plans to support interest payments or fees for using freezing facilities to enable borrowing of necessary funds are under consideration.

For seafood unsuitable for freezing, assistance will be provided to expand sales through corporate cafeterias or online platforms.

Support policies will be implemented not only for products from Fukushima Prefecture but also for seafood from across Japan.

The Ministry of Economy, Trade and Industry originally planned to include funds for establishing the fund in next year’s main budget, but considering the possibility of increased avoidance of Fukushima food products even before the contaminated water release, the project will be advanced.

The Japanese government had already prepared a plan in August this year to inject national funds to support the industry, anticipating possible decreases in seafood demand or price drops following the release of Fukushima contaminated water.

The release of contaminated water from the Fukushima nuclear plant could negatively impact fisheries not only in Japan but also in neighboring countries such as South Korea.

Tokyo Electric Power Company (TEPCO), which is conducting decommissioning work at the Fukushima Daiichi Nuclear Power Plant, responded in a recent online briefing to questions about compensation for damages to fisheries in neighboring countries by stating, "If there are reports of damage, we will carefully listen to whether the damage was caused by the release of treated water (referring to contaminated water)."

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