Moon Geumju: "Enhancing Competitiveness of the Korean Beef Industry and Ensuring Farmers' Income"

"Korean Beef Act" Passes Bill Review Subcommittee of National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee

Moon Geumju, Member of the National Assembly.

Moon Geumju, a member of the Democratic Party of Korea (representing Goheung, Boseong, Jangheung, and Gangjin in South Jeolla Province), announced on April 29 that the "Act on the Transition and Support of the Korean Beef Industry in Response to Carbon Neutrality" (hereinafter referred to as the "Korean Beef Act"), which he proposed as a party policy bill, has passed the bill review subcommittee of the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee.

The Korean Beef Act is a long-standing demand of the Korean beef industry, which has been facing a crisis due to rising feed costs and market opening following FTAs. The bill was adopted as a party policy by the Democratic Party. As the Korean Beef Act has been processed through bipartisan agreement, it is expected to pass smoothly through the full committee, the Legislation and Judiciary Committee, and the plenary session of the National Assembly. This is also expected to resolve the industry's long-standing issues.

The Korean Beef Act aims to support the transition to eco-friendly livestock management and to ensure the stable maintenance of Korean beef prices, thereby promoting the sound development of the Korean beef industry and the stable livelihood of livestock farmers.

The bill requires the government to establish and implement a comprehensive plan for the development of the Korean beef industry, and to formulate medium- and long-term policies for supply and demand in order to maintain appropriate prices. It also allows for the payment of incentives when cattle that have been raised for a certain period are slaughtered or shipped to adjust supply. In addition, the bill includes consulting and financial support for small-scale Korean beef farms, provision of information to establish a foundation for Korean beef exports, and other measures to promote stable management for Korean beef farmers and the development of the industry.

Moon Geumju stated, "Since my time as a preliminary candidate for the 22nd general election, I have promised the enactment of the 'Korean Beef Act' together with Korean beef farmers. I find it meaningful that the bill, which I proposed as a Democratic Party policy, has passed the subcommittee through bipartisan agreement." He emphasized, "I will continue to do my utmost to resolve the industry's long-standing issues, enhance global competitiveness, and ensure stable income for Korean beef farmers."

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