First Achievement of Deep-Sea Fishing Vessel Safety Fund: Launch Ceremony of 'Agnes 110'... Scheduled to Set Sail in November

'Agnes 110' vessel supported by the Deep-Sea Fishing Vessel Safety Fund No. 1

[Sejong=Asia Economy Reporter Joo Sang-don] The Ministry of Oceans and Fisheries announced on the 16th that it will hold the launching and naming ceremony of the 'Agnes 110' vessel, the first supported ship of the Distant-water Fishing Vessel Safety Fund, at Gangnam Joseon in Saha-gu, Busan, on the afternoon of the 17th.

Many of South Korea's distant-water fishing vessels were built between the 1970s and 1990s, making them highly susceptible to accidents due to aging. Additionally, poor facilities have continuously raised concerns regarding crew welfare. In response, the Ministry of Oceans and Fisheries has been promoting tasks to improve vessel safety and working conditions through the 'Distant-water Fishing Vessel Safety and Welfare Improvement Measures' announced in January this year, including ▲establishing the Distant-water Fishing Vessel Safety Fund ▲strengthening inspection standards for imported used vessels ▲preparing for ratification of the Fishing Vessel Safety Agreement ▲establishing management standards to secure crew living spaces on distant-water fishing vessels ▲introducing onshore rest periods.

As part of these measures, the Distant-water Fishing Vessel Safety Fund support project is a program that creates a fund totaling 170 billion KRW (government investment of 85 billion KRW) by 2023 to support the replacement construction of aging distant-water fishing vessels.

The Agnes 110, which is having its launching and naming ceremony this time, is the first outcome of the Distant-water Fishing Vessel Safety Fund support project. Agnes Fisheries, the supported business, received 50% (6 billion KRW) of the construction cost as support from 2019 to 2020.

The Agnes 110 is a distant-water jigging vessel primarily operating squid fishing in the Atlantic and Pacific Oceans, replacing the existing vessel 'Agnes 105' built in 1974. After completing finishing processes, Agnes 110 is scheduled to be commissioned in November and will be actively engaged in fishing activities starting in December.

Meanwhile, in the second half of this year, the construction of the second supported vessel (Seungjin Fisheries) under the Distant-water Fishing Vessel Safety Fund project is expected to be completed. The Ministry of Oceans and Fisheries plans to additionally proceed with the replacement construction of four aging distant-water fishing vessels this year.