Jeonnam Province Expands Support for Duty-Free Fuel for Fisheries Amid Rising Oil Prices
[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Jeonnam Province will provide tax-free fuel support worth 9.6 billion KRW to fishermen struggling with rising fuel costs due to the Russia-Ukraine situation from July to October.
According to Jeonnam Province on the 1st, as of the end of July, the price of tax-free fuel for fishing (based on diesel) is 1,492 KRW per liter, more than double the price at the beginning of the year (717 KRW), placing a heavy burden on fishing vessel operators.
This tax-free fuel support for fishing will be provided to coastal fishing vessels, fishery management vessels, and aquaculture and fish seed production farm operators residing in Jeonnam, based on the same criteria as the first support, for the portion of the increased tax-free fuel cost used from the 1st of last month to October 31st.
The support rate is about 50% of the increase in tax-free fuel compared to the beginning of the year. Fixed amounts are provided: 200 KRW for gasoline and heavy oil, and 85 KRW for diesel.
For diesel, which overlaps with the ‘Fishing Diesel Fuel Price Fluctuation Support’ provided by the Ministry of Oceans and Fisheries for five months from June to October this year, a certain portion of the increase is supported by local government funds, and applications can be submitted to the local city or county (eup/myeon) office of the applicant’s residence.
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Choi Jeong-gi, Director of the Marine and Fisheries Bureau of Jeonnam Province, said, “We expect that extending the tax-free fuel support for fishing will help reduce the management burden on fishermen,” and added, “To overcome difficulties in the fisheries sector caused by the prolonged Russia-Ukraine situation and rising prices, we plan to continuously promote emergency consumption stimulation events, Namdo Market discount events, and support for developing sales channels for excellent seafood products.”
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