"Plan to Submit Legislation on Delivery Price Linkage System by the End of This Month"
[Asia Economy Reporter Minji Lee] The People Power Party announced on the 29th that they received a positive response from the government after requesting a third market isolation purchase (government purchase) of about 100,000 tons to stabilize rice supply and demand.
Seong Il-jong, chairman of the Policy Committee, said in his opening remarks at the party meeting held at the National Assembly that "Last year, a large amount of rice was produced, but the government's purchase and isolation were insufficient, so together with Floor Leader Kwon Seong-dong, we requested Minister of Strategy and Finance Choo Kyung-ho to isolate an additional 100,000 tons, and the minister responded positively."
He added, "Since early-maturing rice will be harvested starting in August, I hope the Ministry of Agriculture, Food and Rural Affairs will conclude discussions with the Ministry of Strategy and Finance as soon as possible."
Chairman Seong also stated that preparations for legislation on the 'Delivery Price Linkage System' are in the final stages. The Delivery Price Linkage System is a mechanism that reflects increases in raw material prices in the delivery price in transactions between primary contractors and subcontractors.
He explained, "The surge in raw material prices has increased difficulties for small and medium-sized enterprises," and said that a bill will be submitted by the end of this month through a representative proposal by Assemblyman Kang Min-guk.
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