Korea Forest Service Temporarily Exempts Payment for Growth Volume of National Forest Products

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korea Forest Service will temporarily exempt the payment for the growth volume of national forest products. This is intended to support forestry workers who are struggling due to the novel coronavirus infection (COVID-19) crisis.

According to the Korea Forest Service on the 8th, the "Act on the Management and Administration of National Forests" requires buyers of national forest products to remove the forest products from the national forest within the removal period, and at this time, they must pay for the growth volume of standing trees (growth period from April to October) that have not been harvested within the removal period.

However, the Korea Forest Service explained that due to the recent COVID-19 situation, which has made it inevitable to extend the business period and increased the economic difficulties of forestry workers, it has been decided to temporarily exempt the payment for the growth volume of national forest products.

The economic benefit for forestry workers is expected to be about 320,000 KRW per 1 hectare.

Han Chang-sul, Director of the Forest Resources Division at the Korea Forest Service, said, "To support forestry workers struggling due to COVID-19, we have decided to temporarily exempt the payment for the growth volume of national forest products only for this year," and added, "The Korea Forest Service plans to review and promote various policies to ensure a stable supply of timber as well."

This content was produced with the assistance of AI translation services.