South Korea: Selected as a target for direct payment of oats Free Trade Agreement (FTA) damage compensation

Oats were selected as the target of this year's Free Trade Agreement (FTA) damage compensation direct payment. The Ministry of Agriculture, Food and Rural Affairs, the Ministry of Food, Agriculture, Forestry and Fisheries, announced an administrative notice on the 23rd of the coming year, and will file an objection by the 12th of next month. For items subject to FTA damage compensation direct payment and business closure subsidies, 42 items subject to import damage monitoring and farmers and producers' organizations will be provided by the FTA Implementation Support Center of the Korea Rural Economic Research Institute in accordance with the procedure set forth in the Special Act on Support for Farmers and Fishermen, etc. following the conclusion of the FTA. For a total of 155 items, including 113 applied items, it was determined by analyzing whether payment criteria such as annual price and import volume were met last year. As a result of the analysis, the item selected for the ...