In Korea, the current production system of the fishing industry is dominated by a limited number of large, modern, capitalist fishers and supported by a large number of small and poor fishing households. However, in the future, it will be impossible to enhance international competitiveness of Korean fisheries and revitalize the under developed fishing communities in a rapidly changing environment surrounding the fishing industry. "Fishery Partnership Corporation" (in Korean, "Younger Johap Beobin") was newly organized by the government to improve the current production system of Korean fisheries. That is, the Fishery Partnership Corporation was introduced to organize the weak and small fishery workers of individual household, and establish a more competitive fishing company and thereby to enhance competitiveness of the fishing industry and revitalize the fishing communities.

The main purposes and functions of the Fishery Partnership Corporation are listed as follows: First, improve fishing productivity by enlarging the fishers` management scale and cooperation of manpower in the individual fishery household, Second, improve fishery income by maximizing producers` profit through cooperative management, and establishing a legal entity which will emphasize managerial efficiency in the fishing industry, Third, restrain from outflow of fishing manpower, revitalize the under-developed fishing communities and enable the responsible and proper fisherman to use the fishing ground more efficiently (It is possible, when the fisherman acquires the licensed fishing right, and the licensee and the beneficiary of the right become the same person).