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FTA aid for Korean pig farmers

South Korea has announced it is considering a regulation system to help pig farmers hit by the bilateral trade agreement with the United States, agreed last week.

The FTA deal, paving the way for e.g. duty-free pork (and beef) imports over the next ten years, is likely to affect about 3.5 million South Korean farmers altogether.

Not only pig farmers will benefit from the deal, vice finance minister Kim Seok-dong explained.

"We have to talk to farmers and agriculture umbrella groups, but direct payment for earnings losses and closures are to be given to people who raise such livestock as cattle and pigs, and grow produce, including tangerines and beans."

Kim added that the government will establish an assistance fund to provide resources for farmers in the years to come.

Related news items:
• Warm welcome for trade deal US-Korea (3 Apr 2007)
• NPPC wants 'ambitious deal' for South Korea (22 Mar 2007)

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