Abstract
Fisheries buyback programs in Korea have been implemented since 1994, and their scales are estimated to be the present value of 930 billion won for the last 9 yens since 1994. The paper attempts to identify the patterns of each fish species, of which their yields can be steadily increased or significant]y decreased, and to evaluate its effective level and the optimal level for buyback programs by means of fishing capacity analysis. The paper distinguishes fish species, that there is no need to reduce the fishing efforts, such as anchovies, mackerels, squids, Spanish mackerels, and herrings, because MSY exceeds yields, from fish species to control overfishing such as file fish, yellow corvenias, young pollack, hair tail, snow crab, and pollack. The paper also suggests that 65% of the fishing efforts (total tonnages) should be cut back at the national aggregate level in order to restore fish stocks.
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