Shinan-gun Holds Launch Ceremony for Youth Income Rental Fishing Boats

Published 03 Apr.2023 15:56(KST)

Updated 15 Aug.2025 17:43(KST)

Drawing a Hopeful New Picture for the Future of the Fisheries Industry

Shinan-gun, Jeollanam-do (Governor Park Woo-ryang) held the launching ceremony for the "Fishing Vessel Leasing Project for Returning Youth," which started nationwide for the first time and is now in its fifth year, on the 29th of last month at Heuksando.

According to the county on the 3rd, the project was first implemented in Shinan-gun in 2019 to help young fishermen who want to engage in fishing but face difficulties due to circumstances secure a fishing base.

The launching ceremony of the youth income rental fishing boat was held. <br>[Photo by Sinan-gun]

The launching ceremony of the youth income rental fishing boat was held.
[Photo by Sinan-gun]

By 2021, the county invested 3.2 billion KRW to purchase 11 vessels, and since last year, it secured 7.4 billion KRW from the Local Extinction Response Fund to lease an additional 40 vessels over two years. As of April, a total of 25 vessels have been purchased and are currently in operation.

The fishing vessel leasing project promoted by Shinan-gun involves purchasing fishing vessels and gear and leasing them to fishermen. Fishermen pay an annual lease fee of about 0.3% of the project cost while managing their fishing operations. Once the lease fees and the principal amount for the vessel purchase are fully repaid, ownership of the vessel is transferred to the fishermen.

A county official stated, "So far, 241 fishermen have applied for about 141 vessels, showing the high popularity of the project," and added, "Since last year, the central government has also been promoting the 'Youth Fishing Vessel Leasing Project' by benchmarking our county."

He further added, "As the project is spreading to other local governments, it is expected that many young fishermen nationwide will benefit."

Governor Park Woo-ryang said, "Our goal is to build a prosperous Shinan where young people return to the 1004 Islands with hope, find jobs, and increase their income," and added, "We plan to continue supporting fishermen and young people wishing to return to fishing so that the project can expand to 100 and 200 vessels, making the islands younger and attracting youth back."

Currently, 25 leased vessels are in operation, including 6 in Heuksan, 8 in Bigeum, and 4 in Ha-ui, with about 50 million KRW collected in lease fees and approximately 3.3 billion KRW in fish sales revenue.