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Busan Metropolitan City and Korea Deep Sea Fisheries Association Sign “Deep Sea Fisheries Industry Future Strategy” Agreement

Aug 12, 2025 102  Views
◈ On August 12 at 11:00 a.m., a memorandum of understanding (MOU) was signed at the City Hall International Protocol Lounge covering the establishment of a foundation for the deep sea fisheries industry, digitalization and smart technology integration, and preservation of the industry’s heritage. Representatives from member companies of the association and the Chairman of the National Deep Sea Fishermen’s Union also attended.

◈ Through this agreement, Busan is expected to invigorate the overall regional economy—including distribution, processing, consumption, and tourism—as a hub city for the deep sea fisheries industry.

◈ Mayor Park Heong-joon stated, “This is the first direct agreement between a local government and the association in the deep sea fisheries sector in Korea, and it will serve as a practical foundation for Busan to become a global maritime hub city.”
내용

Busan Metropolitan City (Mayor Park Heong-joon) announced that on the morning of the 12th at 11:00 a.m., it would sign a digital and Environmental, Social, and Governance (ESG)-based “Deep Sea Fisheries Industry Future Strategy” MOU with the Korea Deep Sea Fisheries Association (Chairman Kim Young-gyu) at the City Hall International Protocol Lounge.


The Korea Deep Sea Fisheries Association was established in 1964 as the Korea Deep Sea Fisheries Association and is a special corporation founded under the Deep Sea Fisheries Development Act to promote the sound development of the deep sea fisheries industry and pursue mutual benefits.


This agreement, aimed at strengthening the sustainability of industries related to deep sea fishing and enhancing Busan’s status as a hub city for the deep sea fisheries industry, marks the first case in Korea where a local government and the representative organization of the industry have signed a direct agreement.


The signing ceremony will be attended by Mayor Park Heong-joon and Korea Deep Sea Fisheries Association Chairman Kim Young-gyu, who will jointly sign the agreement. Other attendees will include Yoon Myeong-gil, Chairman of Dongnam Co., Ltd.; Kim Oh-tae, Busan Branch Manager of Dongwon Industries; Lim Chae-ok, Busan Branch Manager of Sajo Industries; Park Soon-se, Busan Branch Manager of Silla Co., Ltd.; and Park Jin-dong, Chairman of the National Deep Sea Fishermen’s Union, symbolizing public-private-labor cooperation.


The MOU includes provisions for establishing and strengthening the foundation and competitiveness of the deep sea fisheries industry, developing digitalization and smart measurement/distribution systems, and preserving the heritage of the industry while promoting public awareness through publicity, exhibitions, and education.


The deep sea fisheries industry has grown since the departure of Korea’s first deep sea fishing vessel, the Jinam-ho, from Busan Port in 1957. In 1971, it accounted for about 5 percent of Korea’s total exports, amounting to USD 55.1 million, placing the nation among the world’s top three deep sea fishing countries.


As of 2024, 58.1 percent (165 tons) of deep sea catches imported into Korea are distributed through Busan’s Gamcheon Port. Significant quantities of key species such as tuna, squid, and toothfish pass through Busan for distribution, processing, and export.


Through this agreement, a cooperative framework based on digitalization and ESG management is expected to be established to enable a sustainable transition for the deep sea fisheries industry amid rapid changes in the fisheries sector, such as climate change, resource depletion, and global supply chain crises.


As a hub city for the deep sea fisheries industry, the City plans to strengthen industrial linkages across distribution, processing, consumption, and tourism, thereby revitalizing the local economy while providing a practical foundation for Busan to advance as a global maritime hub city.


Chairman Kim Young-gyu of the Korea Deep Sea Fisheries Association said, “Busan is more than just a port of entry; it is the key city where the beginning and end of the deep sea fisheries industry are connected. I hope this agreement will serve as the starting point for cooperation between the local government and the private sector in creating a future model for the fisheries industry.”


Mayor Park Heong-joon stated, “This is the first direct agreement between a local government and the association in Korea. This agreement is significant in that it designs a sustainable future jointly led by the city and the industry, the public and the private sectors, and it will serve as a practical foundation for Busan to become a global maritime hub city.”

This content has been translated by AI. Please refer to the attached original Korean version for accuracy if needed.