Projects utilizing over 10,000 square meters of public waters will now be required to deposit a performance bond for restoration. Failure to comply with restoration orders may result in fines of up to 10 million won per incident.
The Ministry of Oceans and Fisheries announced that a revised enforcement decree of the 'Act on the Management and Reclamation of Public Waters' was approved at a cabinet meeting on September 8.
This revision follows the amendment of the public waters law last year, which will take effect on September 17. It specifies the criteria and procedures for the performance bond deposit and the imposition of fines as mandated by the law.
The amendment mandates that a performance bond be deposited for projects using over 10,000 square meters of public waters. This aims to secure the necessary funds for restoration from the outset of large-scale projects, clarifying the responsibility of operators for restoration.
Specific criteria and procedures for imposing fines for non-compliance with restoration orders have also been established. Fines can be imposed up to 10 million won per incident and can be repeated up to twice a year until the restoration obligation is fulfilled.
The ministry expects that by securing restoration funds in advance and establishing penalties for non-compliance, the effectiveness of restoration orders will be enhanced, leading to quicker recovery efforts.
Hwang Jun-sung, Director of Marine Environment Policy at the Ministry of Oceans and Fisheries, stated, “With this legal amendment, we anticipate that the responsibility and effectiveness of public waters management will be significantly strengthened by securing the necessary costs for restoration from the utilization stage.”
* This article has been translated by AI.
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