Sh Suhyup Bank said on Jan. 19 it will recruit applicants through Feb. 6 for projects under the 2026 Fisheries Development Fund.

The 2026 Fisheries Development Fund totals 180.4 billion won. Key items include 10.5 billion won for management improvement funds for fishermen participating in TAC, 46.7 billion won for support for quality seafood, 51.6 billion won for seafood purchase support, 29.4 billion won for processing facilities and operating support, and 42.3 billion won for distribution funds between production areas and consumer markets.

The 51.6 billion won seafood purchase support fund comprises 29.0 billion won for storage in distribution, 12.0 billion won for frozen storage, 3.9 billion won for frozen products, 2.3 billion won for seaweed, and 4.6 billion won for joint funding by fishing households. Distribution funds for production areas and consumer markets are split into 37.2 billion won for shipping support at production-area auctions and 5.1 billion won for shipping support at wholesale markets.

Interest rates for the Fisheries Development Fund loan programme vary by project type, but generally apply at 2.5 percent a year for fishermen and 3 percent a year for non-fishermen. The repayment period is 1 year, while the management improvement funds for fishermen participating in TAC have a repayment period of 5 years.

A Sh Suhyup Bank official said applications for business plans from those seeking projects under the Fisheries Development Fund are expected to close on Feb. 6, after which it plans to select participants in line with the fund’s project execution guidelines.