Fishing Market Continues to Grow.

The geographical features of Korea are surrounded by the sea on three sides and form a daily living area that provides the most ideal environment for fishing.
There are various types of fishing, divided into sea fishing and freshwater fishing depending on the target area. Among them, sea fishing is divided into boat fishing, rock fishing and breakwater fishing, while freshwater fishing is divided into reservoir fishing (coastal, water), river fishing, ice fishing and boat fishing. As of 2018, South Korea’s fishing industry is worth 2.4 trillion won, which has surpassed the size of the camping market, which has expanded compared to the fishing industry.
In 2017, it surpassed the national hobby mountaineering, which was the undisputed №1 and became the №1 hobby sport in the country.
Outdoor brands geared toward mountaineering are also jumping into the fishing market by expanding their fishing apparel offer, and it is now also possible to watch fishing entertainment programs on TV.

According to the Big Data Institute of the Shinhan Card, payments for fishing products and indoor fishing spot payment increased by 431% in 2018 compared to five years ago. The difference is very significant compared to ski resorts, where payments decreased by 53% during the same period, and the increase in payments was greater compared to indoor golf courses (4%) and outdoor golf courses (11%). In 2017, imports of fishing products reached a record high of $120 million, up 22.2% year-on-year.
According to the fishing promotion basic plan of the Ministry of Oceans and Fisheries, the fishing population is rapidly increasing from 5 million in 2000 to 6.25 million in 2010, 6.67 million in 2015 and 8.5 million in 2018. Since the annual average growth rate is 3.9%, assuming that the annual growth rate is 3.9% as of 2018, 10.12 million people are expected in 2024. One in five citizens will be part of the fishing population, so the demand is great There are not so many markets with demand for 10 million people.
In addition, according to the number of fishing boat users compiled by the Ministry of Oceans and Fisheries, the fishing population increased by 140% from 3.43 million in 2016 to 4.81 million in 2019 and is expected to exceed 5 million in 2020. Plus, despite a major risk to the domestic travel industry due to the COVID-19, the fishing market recorded 3.3 million, an increase of 200,000, and the number of users counted from January to September 2019 and during the same period of 2020.

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