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5.55. The public stockholding scheme for rice, a purchase and release mechanism to deal with emergency situations such as grain shortages and natural disasters, is maintained. (...) The target amount of public stockholding for rice is around 17%-18% of annual consumption. (...).

5.61. Korea's fisheries output continued to increase, from 3.3 million metric tonnes in 2016 to 3.7 million metric tonnes in 2020. Reflecting depletion of fisheries resources in distant and adjacent waters, the enforcement of exclusive economic zones by Korea's neighbouring countries, and constraints built into bilateral and multilateral fishing accords, the shares of fish production from distant and adjacent waters have been declining. In 2020, 11.8% of fish production came from distant waters (down from 13.9% in 2016), and 25.1% from adjacent waters (down from 27.8% in 2016). (...).

5.63. The Ministry of Oceans and Fisheries (MOF) is responsible for providing a fully integrated approach to all marine issues, including fisheries. The Korea Fisheries Resources Agency (FIRA) intends to restore and enhance fisheries resources and the marine ecosystem.

5.64. The Government has been fighting against IUU fishing. In accordance with the Distant Water Fisheries Development Act, all distant-water fishing vessels must obtain preauthorization for transhipment, install a vessel monitoring system (VMS), and be monitored. Fishermen who conduct IUU fishing face imprisonment of up to five years, and/or a criminal fine of up to five times the wholesale value of illegal catches, or a criminal fine of at least KRW 500 million, whichever is higher. The authorities indicate that in 2019, MOF introduced an additional surcharge on IUU fishing vessels, with a view to improving the fight against IUU fishing.

5.65. [Ministry of Oceans and Fisheries] MOF also maintains Total Allowable Catch (TAC) limits for 14 species found in offshore and coastal fishing. [31] It sets limits on the fishing season, fishing areas, the number of fishing boats, and fishing methods. The TAC for these 14 species reached 358,390 MT for the period July 2019 June 2020. The TAC quotas are allocated to fishermen in proportion to the catch in the three most recent years and the gross tonnage of fishing vessels. Quotas are transferable but not tradable. In addition, bycatch of TAC-covered species is deducted from allocated quotas. The TAC covered species are required to be landed at designated landing points and monitored by FIRA.

[31] The 14 species are mackerels, Jack mackerels, red snow crabs, snow crabs, purplish Washington clams, pen shells, horned turban, blue crabs, squids, sailfin sandfish, mottled skate, hairtails, Manila clams, and yellow corvina.

5.68. [5.67. The MOF programmed a future development plan for the fisheries sector into Fisheries Innovation 2030, with a vision to ensure sustainable fisheries. (...)] To achieve these targets, various plans were formulated to: transit offshore fishing to sustainable fisheries, by managing resources, expanding TAC, and eradicating illegal fishing; improve revenue from aquaculture, and ensure the supply of quality and eco-friendly aquaculture products, by, inter alia, increasing the smart aquaculture farm supply ratio from 2.5% in 2017 to 12.5% in 2030;

Table 4.7 Fisheries subsidies, 2016-19
Support for vessel decommissioning
Item: To reduce coastal fleet size to protect fish stocks and promote sustainable fisheries. Offshore fishing vessel decommissioning (government support 100%), coastal fishing vessel decommissioning (government support 80% and provincial support 20%). To be continued provisionally until 2023.
Type: Lump-sum transfer; Loan; Benefit of loan; Total (lump-sum transfer + benefit of loan) (...)
2016 - 2019: (...)

Table 4.7 Fisheries subsidies, 2016-19
Support for fisheries resources management
Item: To ensure sustainable use and conservation of fisheries resources and foster increased scientific and technical knowledge for resource management. It includes sea reforestation projects; developing marine ranches, marine forests, and artificial reefs; and implementation of resource management and restoration measures, such as TAC and self-management in fisheries.
Type: Lump-sum transfer; Loan; Benefit of loan; Total (lump-sum transfer + benefit of loan)
2016 - 2019: (...)

5.74. The mining and quarrying industries account for a tiny share of GDP in Korea (0.1%), while its share in total employment is negligible (Table 1.2). In particular, coal has been an important source for electricity generation, while the Government has been implementing policies to gradually phase out coal from the energy mix. (...).

5.76. Korea relies heavily on fossil fuels; of the 280 mega tonnes of oil equivalent (Mtoe) total primary energy supply (TPES) in 2019, oil, coal, and natural gas accounted for 83% (Chart 4.5). Renewable energy accounted for less than 4%.