With the major changes in fisheries management brought about by technological, politico -legal, and economic and biological development, new problems have emerged in the fisheries sector of the European Community countries. In 1986, the entry of Spain and Portugal to the European Community made the Community the third biggest producer of fishery products in the world. It also had considerable impact on the Common Fisheries Policy (CFP) due to their fishing fleets. This article examines the complexity of establishing the Common Fisheries Policy in the European Community, while underlining the value of such an approach. It reviews four main areas of the common fisheries policy : access to waters and the conservation and management of stocks ; organization of the market ; structural changes and research, and international relations. It also discusses the specific fisheries problems to which the approach of CAP has been applied. It is argued that the fishery resource policy was the most trublesome to put into practice. It is the forum for such thorny questions as total allowable catch (TAC) and the sharing out of TAC between member states. It is shown that there are many things to be tackled in the CAP for the deeper integration in the fisheries sector. The author concludes by suggesting that the Common Fisheries Policy would be a suitable example to which Republic of Korea could refer in concluding reciprocal fisheries agreements with other countries and making the cooperative fisheries policy with North Korea.