Rights-Based Transnational Fishery Management and Its Implementation to Korean Tuna Industry

Unlimited entry into tuna fisheries mostly causes the capacity growth, overexploitation of the world’s tuna stocks and erosion of economic benefits. Thus, establishing property rights and strengthening rights-based anagement are a necessary component to effectively address the meaningful and sustained progress in the conservation and management of the transnational commons. Limited entry is usually the first management step taken in establishing a rights-based management system, which also includes catch quotas, fleet capacity, and establishing fishing days or sets of gears. Buybacks facilitate a transition to a longer-term objective of rights-based management by purchasing vessels, gear, licenses, or other forms of rights. Effectively, Korea has implemented a form of right-based management in the distance-water fisheries in cooperation with several regional fisheries management organizations.