Goheung County to Provide Direct Subsidies for Livestock Sector FTA Damage Compensation

By the End of March, 9,033 Heads of Cattle to Receive 685 Million Won in Compensation

Goheung County, South Jeolla Province (Governor Gong Myeongmin) announced that it will provide FTA compensation direct payments to support livestock farmers who have suffered damages due to increased imports and price drops resulting from the implementation of Free Trade Agreements (FTA).

This direct payment targets farms raising Hanwoo, beef cattle, and Hanwoo calves, aiming to compensate for a portion of the price decline of the designated items and to help ensure stable livestock operations.

Aerial view of Goheung County Office

Eligible recipients are farms that have produced Hanwoo, beef cattle, or Hanwoo calves since before the Korea-Canada FTA came into effect (January 1, 2015) and slaughtered or shipped the designated items in 2023. Applications were received in July and August last year, and after fact-checking investigations and selection reviews, the final recipients were determined.

A total of 9033 heads of cattle will receive 685 million won by the end of March, including 267 million won for 5031 Hanwoo and beef cattle, and 418 million won for 4002 Hanwoo calves.

An official from the county stated, "We plan to promptly provide compensation direct payments to stabilize the management of livestock farmers who have faced difficulties due to price drops caused by FTA implementation," adding, "We will continue to monitor the situation to assess FTA-related damages and strive to minimize the impact."

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