Moneying Fish in South Korean Waters : Economic Rents in Fisheries

Effective management of harvesting within fisheries requires the setting of a management target for the stock biomass of the fishery. Common targets are garcest strategies that maintain the stock biomass at levels of MEY of a fishery, or those that provide a maximum sustainable yield (MSY). From an economic perspective a management tarfet of MEY is prefferred, and is the target specified by the economic objective of the commonwealth Fisheries. This objective specified that fisheries need to be managed in a way that maximizes net economic returns to the Korean community from management of South Korean Fisheries. Fishing industry faces numerous challenges over the next decade as fisheries evolves to play a new role in South Korean developing economy. This book analyzes the current situation in South Korean fisheries and Shows the amount of economic loss that South Korean economy faces annually and with in next 50 years.