Special Act on Compensation for Losses due to Refusal of Permission for Extension of License Period for Cage Aquaculture in Inland Waters.

The purpose of this Act is to promote the livelihood stabilization of fishers by prescribing matters necessary to compensate them for losses caused by the refusal of permission to extend a period of license for cage aquaculture in inland waters.
Article 3 provides for the scope of persons eligible for compensation. A Loss Compensation Committee shall be established under the Minister of Oceans and Fisheries to deliberate on the matters regarding compensation for losses due to nonpermission for license extension (art.5). Compensation shall be calculated based on the amount of property loss due to the closure of a cage aquaculture business (art.8).