Ruling and Democratic Parties: "Opposition's 'Grain Act' Is Not a Cure-All... Additional Income Compensation Measures Needed"

People Power Party and Ministry of Agriculture Hold Working Party-Government Council Meeting
Jeong Hee-yong "Fundamental Solution Needed for Rice Supply Instability"
Song Mi-ryeong "Proactive Response... Mitigating Rice Price Decline"

On the 14th, the People Power Party and the government held a working-level party-government meeting to discuss measures to stabilize rice prices and promote a rebound in rice prices.

Jeong Hee-yong, a ruling party secretary of the National Assembly's Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee and a member of the People Power Party, said at the working-level party-government meeting held at the National Assembly that "Although the government is currently implementing more proactive and bold harvest season measures than ever before, additional measures are needed to secure farmers' income."

Jeong Hee-yong, the whip of the People Power Party in the National Assembly's Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee (second from the left), is speaking at the working-level party-government meeting for rice price stabilization held on the morning of the 14th at the National Assembly in Yeouido, Seoul. Photo by Yonhap News

Jeong added, "The Grain Management Act (Yanggok Act) and the Agricultural and Fishery Products Distribution and Price Stabilization Act (Nongan Act), advocated by the Democratic Party, are not cure-alls," pointing out that "although a huge budget is invested, these laws exacerbate structural oversupply, ultimately causing harm to farmers." He continued, "Rather than repeatedly isolating the market after problems arise, structural innovation is needed to fundamentally resolve the supply-demand instability caused by oversupply of rice," and said, "We will strive to contribute even a little more to the livelihood of the people."

Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs, stated, "The government is proactively promoting market isolation of quantities exceeding the anticipated rice surplus of 200,000 tons," adding, "The mid-term settlement price for supply reserves has been raised by 40,000 won, and rice purchase funds have been increased by 900 billion won from last year to 4.3 trillion won."

Minister Song also said, "Farmers affected by pests such as the rice planthopper are also having all their desired quantities purchased at prices higher than the average year," and reported, "Due to the harvest season crop conditions and government measures, the decline in rice prices at production sites is easing."

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