Minister Jeong Hwang-geun: "Expansion of Tariff Quota Items... Minimizing Price Increase Factors for Processed Foods and Dining Out"

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Kim Hyewon] Jeong Hwang-geun, Minister of Agriculture, Food and Rural Affairs, said on the 1st, "We will expand the items subject to tariff-rate quotas to minimize the factors causing price increases in processed foods and dining out."

Minister Jeong stated this during his greeting at the National Assembly Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee briefing, saying, "Since agricultural and food prices are likely to shift to a downward trend around Chuseok, we will make every effort to stabilize prices during Chuseok, including stabilizing the supply and demand of seasonal products."

He also said, "We will promote subsidies for the rising prices of imported flour and expand support for discount coupons for agricultural and livestock products to reduce the household price burden. To alleviate the burden on farmers due to rising raw material prices, we will support cost reductions in production expenses such as fertilizer and feed, and ensure stable domestic production through thorough disaster response."

Regarding food sovereignty, Minister Jeong emphasized, "We will gradually replace the demand for imported flour through the industrialization of rice flour-type powdery rice and expand the stockpiling of major grains such as rice, wheat, and soybeans. We will actively support private companies in securing overseas supply chains to ensure stable overseas grain procurement even in emergencies."

He continued, "We will resolve the existing blind spots in the public payment system and gradually expand the agricultural direct payment system. At the same time, we will supplement the management system for farmers' business risks such as natural disasters and supply-demand instability to create an environment where farmers can focus on farming with peace of mind."

Regarding the future industrialization of agriculture, Minister Jeong said, "We will prepare tailored support measures for farmland, funds, housing, education, and consulting to practically help young people take proactive challenges in agriculture. We will integrate digital technology throughout all stages of agriculture, from smart farms to online wholesale trading, to solve labor shortages."

He also promised, "We will revise systems related to pet safety management and animal welfare and expand infrastructure. Additionally, we will continue efforts to consult with producer organizations to implement dairy system improvement measures and thoroughly prepare for agricultural disasters during the summer season."

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