Vessel Ownership & Legal Responsibility

Distant Water Fisheries Development Act

Does the law/regulation require information about the beneficial owner of the vessel?

  • Article 6

    (7) A person who intends to be engaged in distant water fisheries through an overseas local corporation established jointly with a foreigner, shall report thereon to the Minister of Oceans and Fisheries. Any person who intends to modify any reported matter shall report such modification. <Amended by Act No. 8852, Feb. 29, 2008; Act No. 11690, Mar. 23, 2013; Act No. 13001, Jan. 6, 2015>