Yoon Opposes Grain Management Act "Not Helpful to Farmers"

Opposition Unilaterally Approves at Agriculture, Food, and Rural Affairs Committee... Yoon: "Mandatory Purchase, Widening Gap and Excess Supply Will Be Disposed"

[Image source=Yonhap News]

[Asia Economy Reporter Bae Kyunghwan] President Yoon Suk-yeol expressed a de facto opposition to the amendment of the Grain Management Act on the 20th. Earlier, the Democratic Party of Korea unilaterally passed the amendment to the Grain Management Act, which mandates the government to compulsorily purchase surplus rice production, at the National Assembly’s Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee despite opposition from the government and ruling party the day before.

On the morning of the 20th at the Yongsan Presidential Office, President Yoon stated, "Yesterday, the amendment to the Grain Management Act passed the standing committee of the National Assembly. The opposition party passed it without even a cost estimate," adding, "I think it does not really help farmers." This is the first time President Yoon has expressed opposition to the Grain Management Act amendment.

In particular, President Yoon said, "If the law mandates compulsory purchase, the gap will widen, and the oversupplied quantity will eventually have to be discarded," and added, "This causes serious waste of agricultural finances, and rather, that money should be used for rural development. I think this (Grain Management Act) does not help farmers." This statement is interpreted as concern over additional tax increases as well as side effects such as oversupply of rice and hindrance to agricultural restructuring caused by the system.

The amendment still has to go through the Legislation and Judiciary Committee and the plenary session. President Yoon’s remarks are also read as a request for further consultation on the amendment during this period. However, with ongoing confrontation between the ruling and opposition parties due to the national audit and the Democratic Party’s reluctance to cooperate following the prosecution’s search of the Democratic Party headquarters the day before, the likelihood of smooth consultation is low.

Within the Presidential Office, there is speculation that the president may exercise a veto power considering the impact of the Grain Management Act on the rice industry. A Presidential Office official said, "The order of the day is to find a way to resolve this through dialogue between the ruling and opposition parties," but added, "However, considering the industrial ecosystem, there is also a possibility of deciding on an alternative measure."

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