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Estimating Energy Efficiency and Energy Saving Potential in the Republic of Korea’s Offshore Fisheries

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  • Yonghan Jeon

    (Resources & Environmental Economics Institute, Pukyong National University, Busan 48547, Republic of Korea)

  • Jongoh Nam

    (Division of Marine & Fisheries Business and Economics, Pukyong National University, Busan 48513, Republic of Korea)

Abstract

The Republic of Korea’s government has established a carbon negativity policy to mitigate climate change in the fisheries sector. To achieve this objective, the government proposed enhancing energy efficiency in vessel fisheries, known for high carbon emissions. However, it was difficult to find research that investigated the energy consumption status of vessel fisheries. Thus, this study aims to calculate the offshore fisheries’ energy efficiency (EE) and to estimate the energy saving potential (ESP) needed in order to achieve efficient energy consumption. For this purpose, annual fisheries management surveys and data on the tax-free petroleum supply are employed. This study measures the EE and the ESP of offshore fisheries by year and fishing gear by employing the stochastic frontier analysis (SFA), which considers exogenous determinants of energy inefficiency. The analysis results show a decline in the EE over time and an increasing trend in the ESP. Notably, the trawl and fleet fisheries tend to have lower energy efficiency. Furthermore, the trawl and fleet fisheries were identified as having the highest ESP. Therefore, to utilize energy efficiently and reduce energy consumption in offshore fisheries, this study suggests scaling down fleet fisheries, developing energy saving fishing nets and eco-friendly fishing vessels, expanding modernization projects for fishing vessels, and revising the related acts.

Suggested Citation

  • Yonghan Jeon & Jongoh Nam, 2023. "Estimating Energy Efficiency and Energy Saving Potential in the Republic of Korea’s Offshore Fisheries," Sustainability, MDPI, vol. 15(20), pages 1-17, October.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:20:p:15026-:d:1262411
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