Written by 1:37 PM Economics

The National Federation of Fisheries Cooperatives (Suhyup) to Distribute ‘Life Jackets Reducing Inconvenience During Operations’ to All Fishing Vessels by Year-End

From October, the mandatory requirement to wear life jackets on fishing vessels with two or fewer people will be implemented. To support this, 80% of the purchase cost of life jackets, priced at around 100,000 KRW, will be covered, benefiting approximately 150,000 people. Fishermen can apply for this support through their local fisheries cooperative or the Vessel Safety Bureau and then receive the products.

The National Federation of Fisheries Cooperatives has established a temporary support program for life jacket distribution, aiming to provide these jackets to all fishing vessels by the end of the year. This initiative is a response to the life jacket wearing mandate effective from October 19, aimed at ensuring the safety of fishermen. The program covers all fishing vessels except those used for testing, research, guidance, enforcement, or training.

Fishermen can purchase designated products from the Ministry of Oceans and Fisheries-approved inflatable life jackets (19 types of collar style and 15 types of waist belt style) listed on the National Federation of Fisheries Cooperatives’ website. Even those who have previously purchased such inflatable life jackets can apply for the subsidy.

Inflatable life jackets, which are lighter and less cumbersome than solid ones, are particularly favored by fishermen. Despite being more expensive than solid jackets, with the support program, the cost for these inflatable jackets is reduced to around 20,000 KRW per jacket, significantly alleviating the financial burden on fishermen. The government has allocated approximately 12.4 billion KRW to this support initiative, with expectations to distribute over 150,000 jackets. The subsidy applies to all crew members on coastal and offshore fishing vessels, with up to two jackets per aquaculture management vessel, and also includes captains and crew on fishing vessels.

For more details, fishermen can contact the National Fishing Vessel Safety Operations Bureau or the Fishing Vessel Safety Operations Department. Labor Jin, chairman of the National Federation of Fisheries Cooperatives, emphasized the critical importance of this initiative for the safety and life protection of fishermen and promised efforts to maximize the reach of this one-time support program within the year.

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