Refining Management Strategies for Common Squid (Todarodes pacificus) Fishing Vessel Fisheries in Korean Waters

This study develops integrated bioeconomic management strategies for the common squid (Todarodes pacificus) fishery in Korea’s coastal waters, addressing both biological conservation and economic sustainability amid severe stock depletion and declining fishery profitability. Drawing on recent catch data and cost structures for six Total allowable Catch (TAC)-managed fishery types, common squid-specific economic indicators were estimated using a stepwise cost allocation method. Based on previous research using the Catch—Maximum Sustainable Yield (CMSY) model with limited Catch Per Unit Effort (CPUE) data, the biomass in 2020 was estimated at approximately 56% of Biomass at Maximum Sustainable Yield (BMSY), indicating an overfished state. Scenario-based simulations identified TAC allocation thresholds at which net profits reach zero, providing a benchmark for adaptive quota redistribution. Results show variation in economic sensitivity and common squid dependency among fishery types: common squid-dependent gears such as offshore jigging and East Sea trawl exhibit high vulnerability, while multi-species fisheries such as purse seine remain resilient. These results provide a basis for developing tailored management strategies for each fishery, thereby enhancing the effectiveness of interventions. Accordingly, policy recommendations include dynamic TAC adjustments, expanded monitoring, introduction of an Individual Transferable Quota system, and coordinated stock assessments with China and Japan. These findings contribute to refining Korea’s TAC system by aligning stock recovery goals with the economic viability of fishing operations.