Final Review of 'Measures for Income and Management Stability of Farmers'... 3rd Meeting of Public-Private-Academic Consultative Body

The Ministry of Agriculture, Food and Rural Affairs announced that Minister Song Mi-ryeong held the third meeting of the public-private-academic consultative body in Seoul on the 30th to discuss and prepare measures for establishing a Korean-style income and management safety net.

Song Miryeong, Minister of Agriculture, Food and Rural Affairs (second from left), is holding the 3rd public-private-academic consultative meeting on the 30th in Seoul to discuss and prepare measures for establishing a Korean-style income and management safety net.

Since its launch on June 19 this year, the consultative body has been continuously discussing the establishment of an income and management safety net for farmers. A total of 18 sector-specific working-level meetings were held to review necessary tasks and supplement and check the implementation plans. This meeting was organized to conduct a final review of the measures established reflecting the discussions so far.

The government plans to expand and reform the public interest direct payment system to establish a farmers' income safety net, fully introduce income stabilization insurance to manage the risk of reduced agricultural income, and expand crop disaster insurance and recovery support in response to the deepening climate crisis. Additionally, the supply and demand management system, which has been focused on post-event handling, will be transformed into a proactive supply and demand management based on public-private cooperation to fundamentally mitigate agricultural product price volatility. The "Korean-style Agricultural Income and Management Safety Net Establishment Plan" will be finalized in detail at this meeting and announced in September.

Minister Song said, "The consultative body members attended meetings every one to two weeks, foregoing their summer vacations, to review policies one by one with the government," adding, "After this final discussion, the Korean-style agricultural income and management safety net establishment plan will be announced next month. I hope that this policy, created together by the government, agricultural sector, and academia, will establish itself as a solid safety net supporting stable agricultural management for farmers."