Deputy Prime Minister Choo Kyung-ho: "Establishment of Specialized Complex for Pet-Related Industries"

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho emphasized on the 9th, "We will establish a specialized complex for pet-related industries and expand support for startup creation and research and development."

Deputy Prime Minister Choo stated this during an emergency economic ministers' meeting held at the government Seoul office, saying, "Although the number of households raising pets has recently increased significantly, the industrial infrastructure to meet their diverse demands is weak, and the burden of medical expenses and other costs of raising pets is also high."

He said, "First, we will actively support the four major sectors: pet food, pet services, pet tech, and pet healthcare," adding, "We will establish a separate classification system for pet food, distinct from livestock feed, and additionally expand specialized personnel such as pet behavior instructors in pet services." He also promised, "The pet tech sector will be designated as an advanced agricultural and food technology field to support commercialization funds, customized consulting, and market expansion."

He continued, "In the pet healthcare sector, to alleviate the burden of medical expenses, we will exempt value-added tax on about 100 frequently treated items for pets, such as otitis externa and patellar luxation, starting from October this year," and explained, "Within this year, we will standardize about 100 medical treatment items that show large variations among animal hospitals, and expand the number of disclosed medical fee items from 4 to more than 20 by next year."

Deputy Prime Minister Choo also added, "We will support the related industries to grow into export industries by organizing and operating a pan-government export support consultative body."

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