Ecosystem-based fisheries management requires a holistic assessment of the status of fisheries by integrating fishery ecosystem indicators for management objectives. In this study four objectives were identified such as the maintenance of the sustainability, biodiversity and habitat quality and socio-economic benefits. The ecosystem-based fisheries assessment (EBFA) model to assess fisheries and their resources at the ecosystem level developed for Korean fisheries (Zhang et al., 2009) has a number of indicators for three management objectives. However, it was found that there were some overlapping components among indicators and that there were difficulties in assessing some indicators in the EBFA model. This study identified problems of the approach and suggested more pragmatic and simpler indicators. It also presented alternative reference points to assess indicators and discussed issues associated with the application of the EBFA model to a marine ranching ecosystem. In this study a total of 24 indicators were used for the assessment which included 4 socio-economic indicators. New indicators and reference points were demonstrated by applying it to the Uljin marine ranch.