According to research by the Korea Maritime Institute, Korea’s GDP in 2000 was about 11.217 trillion KRW, with the marine industry making up 2.7% of it. However, in 2007 Korea made a tremendous development and recorded 79.181 trillion KRW in GDP, of which the marine industry accounted for 3.3%. Furthermore, by 2020, the ratio of the marine industry to the GDP is expected to increase to 10%. In other words, during the time it took for the ratio of the marine industry to the GDP to increase by about 1.5 times, the GDP jumped by seven-fold. This proves that the potential of the marine industry continues to be large, and that it is the next driver for national growth
Korea possesses an EEZ of 443,000 km², about 4.5 times the size of South Korea. This includes about 12,000km² of coastline, 3,200 islands, as well as 2,393 km² of mudflats on the southwest coastline that account for 2.4% of Korea’s land surface. The East Sea, where warm and cold currents alternate, has become a golden fishnet. Moreover, the ria southern coast is an ideal area for natural harbors.
Based on such outstanding marine conditions, Korea began to pursue sea-oriented economic development in the 1960s, and today, it has become a top ten economic powerhouse. In order to achieve even greater advancements, it is necessary to undertake more active use of marine resources and development. The sea is the only place that remains undeveloped by humankind and as the last bastion of resources, their utilization is indeed an essential challenge for national development
※ The texts were written based on the outcome of “development of marine territory educational and promotional data” project pursued by the Korea Maritime Foundation in 2013.
