Estimation of Optimal Catch and Fishing Effort for the Yellow Croaker Using the BSS Model

This study evaluates the optimal catch levels for yellow croaker in Korean inshore and offshore fisheries by applying the Bayesian State-Space Model (BSS) with the Hamiltonian approach, incorporating biological and economic factors. The analysis reveals that the Maximum Sustainable Yield (MSY) is approximately 38,355 tons, while the Maximum Economic Yield (MEY) is around 37,020 tons. The difference between these two figures indicates that current fisheries management strategies might be misaligned, potentially emphasizing biological conservation at the expense of economic efficiency. This study highlights the need to integrate economic considerations into fisheries management policies to achieve a more balanced and sustainable approach. Furthermore, the study notes that environmental change and illegal fishing pose significant threats to the sustainable use of the yellow croaker resource. These findings suggest that the adjustment of our fisheries management policies should take into account not only the biological objective of sustainable use, but also economic objectives, so as to ensure efficient use of fishery resources and long-term sustainability of local communities.