Government Selects 'Saenggang' as the 2023 FTA Damage Compensation Direct Payment Support Target

In 2023, one item, ginger, was selected as the target for compensation payments under the Free Trade Agreement (FTA) damage compensation direct payment program.

The Ministry of Agriculture, Food and Rural Affairs announced on the 30th that it will conduct an administrative notice for 22 days (May 1?22) regarding the draft announcement on the selection of items eligible for the 2023 FTA damage compensation direct payment support, including import contribution rates.

The items eligible for the FTA damage compensation direct payment support were determined through an analysis conducted by the Korea Rural Economic Institute’s FTA Implementation Support Center. This analysis covered a total of 93 items, including 42 items monitored for import damage and 51 items applied for by farmers and producer organizations (hereinafter referred to as farmers, etc.), based on the annual price and import volume fluctuations in 2022, in accordance with the procedures stipulated in the Special Act on Support for Farmers and Fishermen due to FTA agreements.

As a result of the analysis, ginger was selected as the sole item eligible for the 2023 FTA damage compensation direct payment support. The import contribution rate for ginger was determined to be 4.0%, following verification by the support center’s analysis and the Import Contribution Verification Committee. The Import Contribution Verification Committee, composed of academics and experts under the support center, was established to implement the Korea-China FTA bipartisan agreement. It verifies the import contribution analysis model and its results.

The Ministry of Agriculture, Food and Rural Affairs will accept objections until the 22nd of next month, review their validity, and finalize the list of items eligible for the 2023 FTA damage compensation direct payment support through deliberation by the Support Committee for Farmers and Others, as stipulated by law. Once the eligible items are finalized, the ministry will announce the items, accept payment applications from farmers and others, conduct on-site verification, and finalize detailed information such as the recipients.

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