SEOUL, Feb. 22 (Korea Bizwire) — The Ministry of Oceans and Fisheries said Sunday that it will distribute 5.7 million eco-friendly buoys this year.
The government plans to spend 57.1 billion won (US$51 million) for the distribution of eco-friendly buoys, three times more than last year’s supply.
All fishermen will be entitled to receive subsidies covering 70 percent of the price to purchase those buoys from both central and regional authorities.
Currently, a total of 55 million buoys are being used across all fishing towns, 72 percent of which are made of styrofoam. Only 28 percent were counted as eco-friendly.
The government has vowed to eradicate the use of styrofoam buoys by 2025.
Image Credit: Korea Institute of Ocean Science & Technology / Yonhap / email@example.com