Ministry of Oceans and Fisheries Establishes Notice on 'Direct Payment Amounts for Fisheries Management Transfer'
[Sejong=Asia Economy Reporter Moon Chaeseok] The government announced that it will provide direct payments of up to 14.4 million KRW per year when members of fishing villages aged 65 to 74 transfer their membership qualifications to fishermen aged 55 or younger. The goal is to stabilize the income of elderly fishermen and nurture young successor fishermen.
The Ministry of Oceans and Fisheries announced on the 7th that it will notify the payment amount of direct payments for business transfer in the fisheries sector based on this content. The business transfer direct payment system is one of the public interest direct payment systems in the fisheries sector, which will be implemented from this month.
When a fishing village member aged 65 or older but under 75 transfers their membership qualification to a fisherman aged 55 or younger, a certain amount of direct payment is provided.
The average settlement income per fishing village member over the past three years prior to the application year is used as the basis. If it is 2 million KRW or less, a fixed amount of 1.2 million KRW per year is paid. For income exceeding 2 million KRW up to 24 million KRW, 60% of the annual settlement income is paid, and for income exceeding 24 million KRW, 14.4 million KRW per year is paid for up to 10 years depending on age.
To receive the business transfer direct payment, the applicant must be a fisherman who has registered fishing management-related information according to the "Act on the Promotion and Support of Agricultural and Fishery Management Entities." They must have maintained fishing village membership qualifications for more than 10 years and be a member who can prove income through the fishing village settlement report. Additionally, there must be a fisherman aged 55 or younger who meets the membership conditions of the affiliated fishing village and wishes to receive the business transfer. In this case, spouses or direct lineal ascendants/descendants of the applicant are excluded.
To apply for the direct payment, prepare the member list of the affiliated fishing village and the fishing village settlement reports for the three years prior to the application year, and apply at the town, township, or neighborhood office of the applicant's residence. However, it cannot be applied for simultaneously with direct payments for disadvantaged areas.
This year's business transfer direct payment can be applied for throughout the year. Considering schedules such as 60 days for selecting project recipients and 30 days for concluding agreements for direct payment, applications can be made up to three months before the birthdate of those aged 65 or older but under 75.
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