The Ministry of Oceans and Fisheries (Minister CHO Seung Hwan) has budgeted KRW 2.527 billion for next year’s Youth Fishing Village Settlement Support Program, an increase of about 31% from the previous year’s KRW 1.926 billion.

 The Youth Fishing Village Settlement Support Program is a program to create jobs for youth by supporting their fishery-related start-ups and stable settlement in fishing villages. Young individuals under the age of 40 engaged in the fisheries sector with maximum 3 years of experience are eligible for monthly support of KRW 1.1 million for up to 3 years.

 Since starting the program in 2018 with 100 individuals, the Ministry of Oceans and Fisheries has supported a total of 1,135 young individuals* to date, with the number of recipients to be increased to 300 next year in line with the increased budget plan. Anyone interested in next year’s program can inquire at their city, county, or district offices of residence and submit an application with a business plan.

 * Recipients (number of people): (2018) 100 → (2019) 169 → (2020) 208 → (2021) 206 → (2022) 225 → (2023) 227

 Moreover, restrictions on employment activities will also be relaxed with the aim of safeguarding the income of the recipients of the Youth Fishing Village Settlement Support Program. While the previous recipients were allowed to engage in economic activities outside fishing and aquafarming for up to 3 months, this has been extended to 6 months so as to allow them to secure their income during periods when they cannot engage in the fishing business, such as off-seasons.