Grain Management Act and Nongan Act Pass Assembly Committee, Set for Plenary Vote on August 4

On July 29, the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee held a plenary meeting and passed the Grain Management Act and the Agricultural and Fishery Products Distribution and Price Stabilization Act (Nongan Act), which had previously been discarded due to a veto by the Yoon Suk-yeol administration.

At the plenary meeting of the Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee held at the National Assembly on the 29th, ruling and opposition lawmakers are processing the Agricultural Price Stabilization Act and the Grain Act, focusing on the introduction of the Agricultural and Fishery Price Stabilization System. Photo by Yonhap News

These two bills, together with the amendments to the Countermeasures against Agricultural and Fishery Disasters Act and the Agricultural and Fishery Disaster Insurance Act that passed the National Assembly plenary session on July 23, are collectively referred to as the "Four Agricultural Laws."

The People Power Party abstained from voting on the Nongan Act during the subcommittee vote in the morning, stating that further discussion was needed. However, in the plenary meeting, only Representative Cho Seunghwan abstained, while the other members voted in favor.

Regarding the Grain Management Act, which was processed through bipartisan agreement in the subcommittee on July 24, Representative Jeon Jongdeok of the Progressive Party cast a dissenting vote.

The core of the Grain Management Act is that, to stabilize rice prices, the government will compensate farmers for the difference if the selling price of rice falls below the average level, and will be required to purchase any surplus rice produced.

The main content of the Nongan Act is the introduction of an "Agricultural and Fishery Price Stabilization System," under which the government will compensate part of the difference if the market price of major agricultural and fishery products, including rice, falls below a certain standard.

The Democratic Party is expected to table and pass the Grain Management Act and the Nongan Act at the plenary session scheduled for August 4.

The Four Agricultural Laws had previously passed the National Assembly during the Yoon Suk-yeol administration but were discarded due to the exercise of the veto power by former President Yoon Suk-yeol.

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