Ruling and opposition parties agree on 'Revitalizing Rural Areas'... but opposition pledges to "Reintroduce Grain Management Act" if victorious

The results of the April 10 general election are expected to bring changes to agricultural and rural policies. The ruling party, the People Power Party, has set a target average rice price at production sites during the harvest season at around 200,000 to 210,000 KRW per 80kg and plans to implement proactive supply-demand stabilization measures to achieve this. On the other hand, the Democratic Party of Korea has pledged to introduce an 'Agricultural Product Price Stabilization System,' under which the government would compensate the difference if rice prices fall below a reference price. Some opposition candidates have promised to re-push amendments to the Grain Management Act, which the president vetoed last April, raising the possibility that if the opposition wins big in this election, the Grain Act amendments may be pursued again.

According to the People Power Party's '22nd National Assembly Election Policy Pledge Book' released on the 9th, the ruling party aims to maintain an average rice price of 200,000 to 210,000 KRW per 80kg during the harvest season as a key agricultural policy and plans to implement proactive supply-demand stabilization measures. Last year, the government set a goal to maintain rice prices at production sites in the 200,000 KRW range for the 2023 crop, implementing measures such as purchasing all 120,000 tons of paddy rice, including 100,000 tons of privately held rice for overseas aid, and disposing of 400,000 tons for feed. However, as of the 25th of last month, the rice price at production sites was 192,768 KRW per 80kg, falling short of the 200,000 KRW target.

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The Democratic Party promised to significantly expand the state's responsibility so that farmers can farm without worries about prices, disasters, or labor by introducing an agricultural product price stabilization system. This system would set appropriate reference prices for major agricultural products, including rice, and compensate a certain percentage of the difference if market prices fall short. Some opposition candidates have advocated for re-pushing amendments to the Grain Management Act. Lee Jaehan, the Democratic Party candidate for Boeun, Okcheon, Yeongdong, and Goesan in Chungbuk, appealed to voters to support the re-push of the Grain Management Act for farmers and the region, and Park Suhyun, the same party's candidate for Gongju, Buyeo, and Cheongyang in Chungnam, has also pledged to amend the Grain Act and introduce the agricultural product price stabilization system.

Both ruling and opposition parties agree on the necessity of measures to revitalize rural areas. The People Power Party plans to introduce a 'Rural Experience Housing' system suitable as temporary accommodation to replace farm huts, based on the government's 'Rural Extinction Response Strategy' announced at the end of last month, and to promote the establishment of education development zones and the activation of second homes. The Democratic Party has pledged to gradually provide a rural resident allowance (basic income) of 1.2 million KRW per person annually in depopulated areas.

Increasing disaster recovery funds and expanding the scale of the 1,000 KRW breakfast program for university students are common pledges of both parties. However, the People Power Party has proposed a phased increase in disaster recovery fund realization levels to over 80%, while the Democratic Party plans to introduce a 'National Responsibility System for Agricultural and Fishery Disaster' that expands the scope of damage recovery and raises support rates to actual transaction prices in case of agricultural and fishery disaster damage, and to provide food vouchers (local currency) not only to university students but also to vulnerable youth groups before employment.

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