Gyeongbuk Cheongsong-gun Holds Business Agreement Ceremony for 'Agricultural and Livestock Product Price Stabilization Fund' Contribution

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Gwi-yeol] Yoon Kyung-hee, the mayor of Cheongsong County, signed a business agreement on the 27th at the county office's first conference room with seven distribution organizations to contribute to the Agricultural and Livestock Products Price Stabilization Fund.

The seven organizations are Daegu Gyeongbuk Apple Agricultural Cooperative, Cheongsong Agricultural Cooperative, Namcheongsong Agricultural Cooperative, Hyeonseo Agricultural Cooperative, Cheongsong Yeongyang Livestock Agricultural Cooperative, Jinbo Tobacco Leaf Production Cooperative, and Cheongsong Apple Distribution Center.

The Cheongsong County Agricultural and Livestock Products Price Stabilization Fund supports part of the difference between the wholesale market price and the minimum price when the wholesale market price of agricultural and livestock products falls below the minimum price, and promotes price stabilization policies.

To stabilize farm household economies, the related ordinance was enacted in 2014, initiated by Lee Gwang-ho, chairman of the Cheongsong County Council.

Cheongsong County plans to raise more than 10 billion KRW in funds by 2025 through county contributions, contributions from distribution organizations, fund operation profits, and other contributions and revenues. So far, 3 billion KRW has been raised, and in this business agreement, the seven organizations agreed to contribute 1 billion KRW over six years from 2022 to 2027.

Yoon Kyung-hee, mayor of Cheongsong County, said, “I thank the heads of local agricultural cooperatives who participated in raising the fund for stabilizing farm household economies,” and added, “Let us all take responsibility and work hard to support farmers.”

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