Fisheries: A Missing Link in Greenhouse Gas Emission Policies in South Korea

Kyumin Kim, Do-Hoon Kim and Yeonghye Kim
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Kyumin Kim: Department of Agricultural and Resource Economics, University of California, Davis, CA 95616, USA
Do-Hoon Kim: Department of Marine & Fisheries Business and Economics, Pukyong National University, Busan 48513, Korea
Yeonghye Kim: Coastal Water Fisheries Resources Research Division, National Institute of Fisheries Science, Busan 46083, Korea

Sustainability, 2021, vol. 13, issue 11, 1-10

Abstract: Recent studies demonstrate that fisheries are massive contributors to global greenhouse gas (GHG) emissions. The average Korean fishing vessel is old, fuel-inefficient, and creates a large volume of emissions. Yet, there is little research on how to address the GHG emissions in Korean fisheries. This study estimated the change in GHG emissions and emission costs at different levels of fishing operations using a steady-state bioeconomic model based on the case of the Anchovy Tow Net Fishery (ATNF) and the Large Purse Seine Fishery (LPSF). We conclude that reducing the fishing efforts of the ATNF and LPSF by 37% and 8% respectively would not only eliminate negative externalities on the anchovy and mackerel stock respectively, but also mitigate emissions and emission costs in the fishing industry. To limit emissions, we propose that the Korean government reduce fishing efforts through a vessel-buyback program and set an annual catch limit. Alternatively, the government should provide loans for modernizing old fishing vessels or a subsidy for installing emission abatement equipment to reduce the excessive emissions from Korean fisheries.

Keywords: global warming; carbon footprint; food mileage; carbon neutral; marine policy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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