South Korea: Jeju Island raises KRW 7 billion to support winter vegetables this year

Vegetables

South Korea

Market & Price Trends

Innovation & Technology

Published Feb 21, 2024

Tridge summary

Jeju Island is set to raise and match 7 billion won in self-support funds for winter vegetable self-support organizations, with the aim of stabilizing supply and demand. The funds, raised by producer associations for each agricultural product, will be used for various initiatives including supply and demand control, storage and shipment support, consumer promotion, and the expansion of new seed varieties. The ultimate goal is to autonomously control supply and demand while enhancing product competitiveness.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Jeju Island is starting to support the creation of self-support funds to stabilize the supply and demand of winter vegetables. Jeju Special Self-Governing Province announced that it plans to raise and support 7 billion won in self-support funds to winter vegetable self-support organizations this year in order to stabilize the supply and demand of winter vegetables. The Jeju-type self-subsidy is a fund raised by producer associations for each agricultural product to be used to promote common interests and stabilize supply and demand, and the administration will match and support the amount raised by the producer group. This year's self-support fund raising plan for each product group, including winter radishes, carrots, cabbage, and broccoli, totals 7 billion won, of which 50%, or 3.5 billion won, is scheduled to be supported. Woldongmu plans to invest 2.6 billion won in five areas, including supply and demand control projects such as voluntary reduction and shipment suspension. ...

Source: Agrinet