South Korea raises disaster recovery payouts for fish farms hit by high water temperatures

South Korea is strengthening recovery support for fish farms damaged by natural disasters such as high water temperatures and red tides. The government is raising recovery unit prices for major farmed species — including rockfish and flounder — by up to 38%, and adding previously ineligible species, including laver seed, to the support list.

The Ministry of Oceans and Fisheries said Tuesday it will implement a revised public notice on natural disaster recovery cost standards beginning Wednesday.

The recovery unit price notice sets the benchmark for calculating payouts to fish farmers who suffer losses from natural disasters such as typhoons, high water temperatures and red tides.

The revision adds seven new species, including laver seed, to the list of eligible items. It also raises recovery unit prices for 18 species, including rockfish and flounder.

Rockfish — among the species most frequently hit by high water temperatures and red tides — will see its per-fish recovery price for large fish rise to 2,817 won, up 38% from last year. For flounder, the per-fish price for small fish increases 12 percent to 836 won, while the price for large fish rises 15 percent to 4,920 won.

The average increase across the 18 species is 44 percent. The ministry said it adjusted the prices in response to longstanding calls from fish farmers to bring recovery payouts in line with actual transaction prices.

The government said it plans to continue identifying species that frequently suffer damage, adding them to the recovery support list and adjusting unit prices to reflect actual transaction prices.

"I hope the addition of new recovery items and the price increases will help fish farming households affected by natural disasters," Oceans and Fisheries Minister Hwang Jong-woo said. "We will continue to improve the disaster recovery system by identifying species that sustain significant real-world damage and raising recovery unit prices to reflect actual transaction levels."