Choo Kyung-ho: "30% Discount on Lettuce, Spinach, and Chicken... Fully Committed to Supporting Heavy Rain Damage"

Presiding Over Emergency Economic Ministers' Meeting... "Doing Our Best to Stabilize Supply and Demand of Agricultural and Marine Products"

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho is speaking at the Committee for Strengthening Competitiveness of Materials, Parts, and Equipment held at the Government Seoul Office Building on the 20th. Photo by Hyunmin Kim kimhyun81@

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho announced on the 21st, "For lettuce, spinach, chicken, and substitute items such as perilla leaves, whose prices are unstable, we will reduce the burden of living expenses for ordinary people by providing up to a 30% discount support until supply and demand instability is resolved."

While presiding over the Emergency Economic Ministers' Meeting and Export Investment Measures Meeting held at the Seoul Government Complex on the same day, Deputy Prime Minister Choo said, "We will do our best to stabilize supply and demand so that the damage caused by heavy rains does not translate into higher food prices."

He stated, "For facility vegetables such as lettuce, we will support rapid re-sowing and induce early shipments from other regions such as Icheon and Namwon, while also expanding the production and shipment of substitute items like perilla leaves. For chicken, we will import the entire 30,000 tons of tariff quota by August and initiate additional import procedures to minimize short-term supply instability." He also explained, "We will import 5 million hatching eggs and support the supply capacity to recover quickly through 80 billion won in loans for chick stocking."

Measures for rapid compensation will also be prepared to help flood-affected farms return to farming quickly. Deputy Prime Minister Choo said, "We will mobilize all available resources such as disaster and accident countermeasure funds to provide sufficient restoration costs for damaged farmland and livestock facilities," and added, "We will actively support the livelihood stabilization of disaster victims through emergency living expenses, housing restoration support, and temporary housing supply."

He added, "We will pay disaster restoration costs for submerged crops and livestock as quickly as possible, and actively utilize existing policy projects to support the replacement of submerged facilities and equipment not covered by disaster restoration payments." Furthermore, he stated, "Through rapid damage assessment, we will ensure that crop disaster insurance payments can be received within about one month from the application date," and announced, "We will prioritize improvements to drainage facilities in the affected areas and actively support the demolition and reconstruction of damaged crops and agricultural facilities."

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