Yoon: "'Unlimited Purchase' Grain Management Act Is Not Desirable"

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[Asia Economy Reporter Ki-min Lee] President Yoon Seok-yeol stated on the 4th, "I believe that the Grain Management Act, which mandates unlimited purchase, is ultimately not desirable for our agriculture."

This clearly expressed opposition to the amendment of the Grain Management Act, which the Democratic Party of Korea submitted directly to the National Assembly plenary session on December 28 last year, mandating government rice market isolation.

On the afternoon of the same day, during the 2023 New Year work report of the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries held at the Blue House State Guest House, President Yoon said, "Regardless of how much the market can absorb, the Grain Management Act that requires the government to purchase unconditionally does not help farmers."

He emphasized, "It is reasonable for the government to intervene to some extent to allow autonomous supply and demand adjustment through market functions, stabilize prices, and provide predictability for our farmers' production."

He then requested, "I ask those present here today to deeply consider this point and provide their opinions."

[Image source=Yonhap News]

President Yoon also mentioned the passage of the Grain Management Act in the National Assembly standing committee during a door-stepping interview (brief Q&A on the way to work) on October 20 last year, pointing out that "it does not really help farmers."

At that time, he said, "To prevent the price of rice, which farmers have worked hard to cultivate, from plummeting due to supply exceeding demand, the government carried out the largest rice isolation ever this year," adding, "This should be left to government discretion to gradually reduce the gap between supply and demand and prevent waste of our finances and agricultural products."

As President Yoon repeatedly emphasized his opposition, the possibility of him exercising the presidential veto increased if the Democratic Party passed the bill alone. The People Power Party also announced that it would request the president to exercise the veto if the opposition party passed it alone in the plenary session.

President Yoon also urged, "Regarding agricultural and marine products, a rational distribution structure should be continuously designed and improved so that both farmers and fishermen producing locally and urban consumers benefit."

He reaffirmed his position that a strong export drive based on industrial advancement and innovation is necessary for the development of the agriculture, livestock, and marine sectors.

Especially concerning exports, he instructed the Ministry of Oceans and Fisheries to "strongly promote the digitalization and advancement of our smart ports and logistics systems."

President Yoon said, "We are now in the era of the Fourth Industrial Revolution. Digitalization is deepening and advancing," emphasizing productivity improvement and attracting young populations through digitalization and innovation in the agriculture, livestock, and marine sectors.

He also urged restructuring rural farming and fishing villages to become livable towns and regions, combining tourism, food, and cultural contents to create secondary and tertiary economic values.

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