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The necessity of fishing vessel reduction

Recently, our country has seen a decrease in the amount of coastal natural resources due to excessive amount of fishing effort and consequent overfishing. Accordingly, the overall catch has been steadily decreasing since 1986. The decrease of catch due to the decrease of coastal natural resources is the main cause of dwindling fishery income. For this reason, the government has initiated the fishing vessel reduction project in1994, in order to recover the overfished or depleted fishing resources by reducing the fishing power of the offshore fisheries.
The necessity of fishing vessel reductionThe necessity of fishing vessel reduction

The goal of fishing vessel reduction

The goal of fishing vessel reduction

Under the new climate regime (Paris Agreement),
Korea will reduce greenhouse gas emissions by 37% from projections until 2030.

  • Contributing to the reinforcement of fisheries competitiveness and increasing fishermen income by matching the coastal and offshore fishing power and available fishing resource, for sustainable fisheries production
  • Restructuring into advanced fisheries by implementing fishing agreements with neighboring countries and prioritizing the reduction of fishing industry sectors with high GHG emission (fuel Sumption) and the possibility of illegal fishing (elimination of international IUU)

Fishing vessel reduction project details

Fishing vessel reduction project details
Instead of disposing the reduced fishing vessels, as driven by the Ministry of Oceans and Fisheries (therefore requiring no disposal cost and emitting zero pollutants), our project aims to reinforce the competitiveness of the boat fishing industry and increase in the aquatic food production, at the same time reducing the government’s greenhouse gas emissions. Under a partnership with the Indonesian government, our plan includes the development of a fisheries wholesale market and making use of the reduced fishing vessels in Indonesia, securing local fishing resources, thereby securing the future fishing resources of our country.

Expected benefits of fishing vessel reduction

Expected benefits of fishing vessel reduction
  • synergy with the government’s fishing vessel reduction project
  • Protecting the country’s fishing resources by reducing the number of coastal and offshore fishing vessels
  • reinforce the competitiveness of the fishing industry and contribute to the increase of fishermen’s income
  • reduction of greenhouse gas emissions (and fuel consumption of fishing vessels)
  • Securing future fishing resources and creating new job opportunities for domestic fishermen by transferring fishing technology to a developing country

Indonesia fisheries wholesale market development project summary

Indonesia fisheries wholesale market development project summary Indonesia fisheries wholesale market development project summary

Because Ara global holds 51% shares of the local joint corporation in Indonesia, importing fisheries into Korea is tariff-free.

Partners

Tuna Refrigerated Warehouses & LNG Fishing Vessel Engine Support

Tuna Refrigerated Warehouses & LNG Fishing Vessel Engine Support

Tuna Refrigerated Warehouses

  • Indonesian partner
    (MR rm heriansyah@pthbi.com)

    Bluefin Tuna (caught in Sulawesi area of South China Sea) Storage Warehouse Construct Proposal

    Using Energy is Cold heat that is released during use of LNG gas vaporized

  • Acquisition of Indonesian tuna fishing quota (100 thousand tons per year)

    The sales Network has already been established in Korea, Japan, China, Vietnam

    Operate specialty restaurant for specialty of blue fin tuna and franchise

LNG Fishing Vessel Engine Support

  • LNG Ship Engine & Vessel helm Supply support : 5,000 unit

Development Plan

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