Application of a bioeconomic model to Spanish mackerel in the seas of Korea

Abstract

By focusing on a single species and multiple fisheries, this study provides a stock assessment of the Spanish mackerel caught mostly by Korean large trawl (LT), large purse seine (LPS), and large pair trawl (LPT) fisheries. We standardize the fishing efforts for the three fisheries by using a general linear model. We also employ a surplus production model, the Clarke–Yoshimoto–Pooley (CYP) model, based on the Gompertz growth function. The CYP model estimates the maximum sustainable yield, allowable biological catch (ABC), and associated fishing efforts, while a bioeconomic model is used to estimate the maximum economic yield and associated fishing efforts. Furthermore, the study analyzes the economic interactions among the LT, LPS, and LPT fisheries in the Republic of Korea. The economic analysis compares the net profits of the three different axes accruing to the three fisheries from the estimated ABC. The results show that fishing efforts to catch Spanish mackerel have recently risen in the seas of Korea; however, the stock has reduced because of overfishing. Thus, the study’s findings suggest that total allowable catch management is necessary for single species and multiple fisheries in order to preserve the Spanish mackerel stock in Korea.