69 



Republic of Korea (Contd.): 



NEGOTIATES FOR SECOND FISHERY LOAN 

 FROM ITALIAN-FRENCH CONSORTIUM 



To avoid relying too heavily on Japan in 

 the import of fishing vessels, ROK is nego- 

 tiating for a second Franco -Italian loan to- 

 taling $20 million. 



The first Franco -Italian fisheries loan 

 program is valued at $45,750,000. During 

 the current negotiations for the second loan 

 program, ROK will try to ease terms of the 

 first loan. For the second loan, it proposes 

 that the repayment period should be 10 years, 

 the period guaranteeing the efficiency of the 

 boats concerned should be 24 months, and 

 the spare parts valued at $150,000 should be 

 in grants. ( Korean Business Review, Sept. 

 1966.) 



FISHERY EXPORTS ARE RISING 



During January -August 1966, South Korea 

 exported 25 percent more fishery products 

 (US$22.1 million) than during the same peri- 

 od in 1965 (US$17.6 million). The increase 

 resulted mainly from greater landings made 

 possible by new vessels and the moderniza- 

 tion of the fishing industry. (U.S. Embassy, 

 Seoul, Sept. 22, 1966.) 



i'fi :^ ;;« >!c sjc 



VESSEL RETURNS FROM 

 NORTH PACIFIC SURVEY 



agreement for developing her nation's high- 

 seas fishing industry. The Soviets reported- 

 ly will deliver to India 2 types of vessels 

 suitable for deep-sea fishing. The vessels will 

 fish experimentally for three months to deter- 

 mine which better suits Indian conditions. 

 Once the decision is made, the USSR will sup- 

 ply a "large number" of vessels of the de- 

 sired type. A shipyard for fishing vessels 

 also will be built in India with Soviet help. 



A Soviet technical aid team, organized by 

 the USSR Ministry of Fisheries, visited India 

 in November 1965 to conduct background and 

 feasibility studies. ( Fishing News Interna - 

 tional , September 1966.) 



Micronesia 



NEW TUNA VESSEL LAUNCHED 



A 75 -ft. tuna vessel, the "Emeraech" 

 (Morning Star) was launched at a boatyard at 

 Palau early in June 1966. The launching signals 

 the beginning of a new period of commercial 

 fishing in Micronesia. She is the first Ha- 

 waiian-style tuna vessel built in the area. 



The boat has a larger bait and catch ca- 

 pacity than traditional Okinawan-style boats 

 and requires half the crew. The U. S. High 

 Commissioner of the Trust Territories said 

 at the launching ceremony that the new ves- 

 sel would have "deep significance" for the 

 economic future of Micronesia. ( Pacific Is- 

 lands Monthly , July 1966.) 



The ROK fisheries research and training 

 vessel, "Baek Kyung Ho," was scheduled to 

 arrive at Tokyo September 25 en route to her 

 home port of Pusan. The vessel explored 

 fishing grounds in the eastern Bering Sea and 

 North Pacific. It was reported that data col- 

 lected will be analyzed to determine the fea- 

 sibility of conducting mothers hip -type oper- 

 ations in those waters next year. (Suisancho 

 Nippo . September 24, 1966.) 



India 



SOVIET UNION AIDS FISHERIES 



During a July 1966 visit to Moscow, India's 

 Premier Indira Gandhi signed a technical aid 



Solomon Islands 



NEW COMPANY TO EXPLOIT 

 SPINY LOBSTER 



A United States firm in Philadelphia, Pa., 

 plans to form a new company to develop a 

 spiny lobster industry in the Solomon Is- 

 lands. If the venture is a success, many 

 Solomon Islanders could find employment in 

 the new industry. The firm's secretary be- 

 lieves that the spiny lobster could become 

 the Islands' second most valuable export 

 product, after copra. 



The local variety of spiny lobster is re- 

 puted to be delicious. ( Pacific Islands 

 Monthly , July 1966.) 



