On March 16, 2015, several Korean newspapers including Farmers Newspaper had reported that the Korean government is considering the introduction of trade benefits sharing system for compensating the damage in the agricultural sector after the launch of Korea-China FTA. Korean Agricultural...
Korean Government Reviews the Introduction of Trade Benefits Sharing System in Support of the Agricultural Sector
The Korean Government Made a Standard of Minimum Price for Contract Farming in Seven Major Vegetables
On March 13, 2015, The Committee for Agricultural Stabilization on Supply and Demand under the Ministry of Agriculture, Food and Rural Affairs (MAFRA) made a decision on standards of minimum price for contract faming in seven major vegetables such as radish, oriental cabbage, carrots, green...
On March 3, 2015, the Korean government has approved a final draft on the 2nd basic plan for dietary life education from 2015 to 2019. It is for promoting public heath through appropriate diets. The plan aims to contribute to enhancing the consumption of local foods. Source: Korea Rural...
Persistent violators on the country of origin indication for agro-food products will receive an aggravated punishment in Korea
On March 2, 2015, the Korean Supreme Court has made a revised regulation on weighing of an offense on food and, make an aggravated punishment for persistent violators who tamper with the country of origin labels for agro-food products. This is for prevention of the crime against food and public...
New farmers returning from urban area could receive a favorable loan up to 1 billion won ($US 0.9 million) starting July 1. 2015 in Korea
On February 28, 2015, the Korean Government has submitted a revised bill on the agricultural credit guarantee law to the National Assembly, which allows new farmers who are returning from urban area to borrow money up to 1 billion won ($US 0.9 million) with the guarantee for bank loans utilizing...
Core content : Rice production in 2014 (preliminary estimate) is predicted to reach 70.83 million mt, or decrease by 0.63 compared to 2013 figure. The decline was due to a decrese in harvested area (0.30%) and a decrese in yield (0.33%) Sources : Press Release Central Bureau of...
Downward trend on natural rubber price in the world market, ITRC controls excess supply in Indonesia
The 24th Meeting of the International Tripartite Rubber Council (ITRC) in Bandung, Indonesia on 27 February 2015 concluded that member countries should control excess supply to reverse a downward trend of natural rubber price in the world market. Sources : Press Release Ministry of...