Jeongeup-si, FTA Damage Compensation Direct Payment Application for Mung Bean Producing Farms

Jeongeup City in Jeollabuk-do announced on the 26th that it will accept applications for compensation payments for damages caused by Free Trade Agreements (FTA) from mung bean producers until the 7th of next month.

This compensation support aims to offset price decline damages caused by increased imports due to FTA implementation, and this year, 'mung beans' have been selected as the target item for support.

The recipients of the compensation payments must be farmers or corporations registered as agricultural management entities, and must be able to prove that they have been cultivating mung beans since before December 20, 2015, and have directly produced and sold them in 2023.

Eligible farmers can receive approximately 1,038,240 KRW per hectare upon submitting the relevant documents. Applications should be submitted to the local eup, myeon, or dong office.

The city will select the final recipients through document review and on-site inspections after receiving the applications, and the compensation payments are scheduled to be disbursed in December.

A city official stated, "We are strengthening publicity to ensure that no eligible farmers are omitted and can apply," and added, "We hope applicants complete their submissions within the deadline."

Jeongeup = Kim Jaegil, Honam Reporting Headquarters, Asia Economy baekok@asiae.co.kr

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