Korean Beef Association welcomes the selection of South Korean beef and Korean beef calves for FTA damage compensation direct payment

Published 2024년 5월 14일

Tridge summary

The National Korean Beef Association has expressed satisfaction with the selection of Korean beef and Korean beef calves for direct payment of damages under the Free Trade Agreement (FTA), but has also requested institutional improvements such as easier activation requirements, an increase in the reserve amount, and a extension of the sunset. The association has also called for an increase in the compensation amount, as the current amount is seen as too low, and has highlighted the need to extend the FTA direct payments beyond their current expiration date next year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

-Statement, requesting institutional supplementation such as activation requirements, increase in reserve amount, and extension of sunset The National Korean Beef Association expressed its welcome at the selection of Korean beef and Korean beef calves for direct payment for damages under the Free Trade Agreement (FTA). On the 12th, the Ministry of Agriculture, Food and Rural Affairs conducted an administrative notice announcing the selection of Korean beef, Korean beef calves, and two other items for the ‘2024 FTA Damage Compensation Direct Payment (FTA Direct Payment) Support Target’. Accordingly, on the 14th, the Korean Beef Association issued a statement titled 'Welcoming the selection of Korean beef and Korean beef calves for FTA damage compensation direct payment' and welcomed the fact that Korean beef farmers who suffered damage from imported beef were able to compensate for some of the price decrease and the agricultural and food industry. Thank you for your wealth. In a ...

Source: Aflnews