Ministry of Oceans and Fisheries Selects Fisheries Businessperson of the Year... Up to 500 Million KRW Loan Per Person

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Ministry of Oceans and Fisheries announced on the 9th that it will newly select 341 fishery business operators this year and provide loan funds necessary for establishing a fishing foundation starting from the 12th.

Since 1981, the Ministry of Oceans and Fisheries has selected over 30,000 fishery business operators to cultivate excellent fishery personnel who will lead innovation in domestic fisheries and fishing villages.

This year, a total of 341 new fishery business operators were selected, including 291 successors of fishery workers and 50 outstanding managers. By age group, those in their 40s were the largest with 172 people (50.4%). By industry, 171 people (50.1%) were engaged in fishing vessel fisheries, and 164 people (48.1%) were engaged in aquaculture fisheries, similar to last year.

Once selected as a fishery business operator, successors of fishery workers can receive financial support of up to 300 million KRW per person, and outstanding managers can receive an additional 200 million KRW, allowing loans at low interest rates of 1-2% per year within a maximum limit of 500 million KRW per person. However, there are restrictions if support such as loans for returning fishermen startup funds has already been received.