Distant Water Fisheries Development Act.

The purpose of this Act is to prescribe matters concerning the distant water fisheries industry, thereby contributing to strengthening its competitiveness through sustainable development of the distant water fisheries industry and the responsible management of fisheries and to improving the national economy by facilitating international cooperation and ensuring the stable supply of marine resources in international waters. The text consisting of 36 sections deals, inter alia, with the following: Formulation of comprehensive plans to develop distant water fisheries industry; Establishment and operation of deliberative Committee for Development of Distant Water Fisheries Industry; Permission for and reporting on distant water fisheries; Suspension of permits for distant water fisheries;Restrictions on permission for distant water fisheries;Cancellation, etc. of permit for distant water fisheries; Rules for distant water fishery operators to observe; Facilitation of dissemination of new technologies and techniques concerning distant water fisheries industry;Establishment of Korea Overseas Fisheries Association.