10 SOUTH KOREA


Progress is coming to marina development


O


n 17 August, 2016, South Korea’s Ministry of Oceans and Fisheries announced that


the number of leisure boats registered in South Korea had increased to 15,172 by December, 2015, a rise of 17% over the previous year. The number had risen by more than 380% compared to 2007. In 2015 alone, 15,059 South Koreans acquired yacht or boat sailing licenses to show a year-on-year growth of 10% or so. The global marine leisure


industry is enjoying a boom these days and the number of leisure boats has been estimated at 29 million, of which North American and European markets accounted for over 85%. China exported more than


170,000 leisure craft in 2013 and the country is expected to reach 25% of market share by 2020. Despite the undoubted growth in


facilities for leisure boating in Asia, marina facilities in South Korea still have a long way to go. A total of 32 marinas are currently available in the country with a total mooring


capacity of 2,181 berths, which are equivalent to 23.2% of the estimated demand for 2019. This means only 14.1% of the nation’s 15,172 boats can moor at a marina. Incredible surroundings,


increased economic wealth and a safe and secure social environment make South Korea an intriguing market for the marina industry and during the last decade, a great deal of effort has been made by the government to develop half a dozen marinas, including Hupo Port located in Uljin, Bangameori in Ansan, Woongcheon in Yeosu,


Myeongdong in Changwon, Woonchon in Busan and Woemok in Dangjik. Private investors have also been active in improving the region’s boating infrastructure and investment is being sought for projects in Deokjeokdo at Incheon, Jinha at Wulju and Gogunsan at Gunsan. The government also has long-


term plans to develop river marinas and is planning to install these in the Han River, Nakdong River and other rivers with favourable conditions for boating. However, the country’s


The striking clubhouse of Seoul Marina.


MARINA ASIA-PACIFIC • NOVEMBER 2016


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