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Outcome and improvement direction of complementary measures for domestic industry in response to FTAs

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  • Outcome and improvement direction of complementary measures for domestic industry in response to FTAs
  • Moon, Han-pil; Jeong, Min-kook; Nam, Kyung-soo; Jeong, Ho-yeon
  • Korea Rural Economic Institute


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Title Outcome and improvement direction of complementary measures for domestic industry in response to FTAs
Similar Titles
Material Type Reports
Author(English)

Moon, Han-pil; Jeong, Min-kook; Nam, Kyung-soo; Jeong, Ho-yeon

Publisher

[Seoul]:Korea Rural Economic Institute

Date 2014-08
Series Title; No Agricultural Policy Focus / no. 91
Pages 36
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Trade
Industry and Technology < Agriculture
Holding KREI

Abstract

With the conclusion of the Free Trade Agreements with the US and the EU, the South Korean government established complementary measures amounting to 28.8 trillion won (2008-2020) for its domestic market, in order to compensate for damages to farmers and improve conditions and competitiveness of agriculture.

From 2008 to 2013, a total of 13.3279 trillion won of the investment and loan budget was allocated to the complementary measures for the domestic agricultural sector in response to the FTAs, and among the budget, 12.9467 trillion won has been used so far. Over the past six years, 46.8 percent (6.053 trillion won) and 27 percent (3.4943 trillion won) of the total financial support for the agricultural sector have been assigned to enhance the competitiveness of the livestock industry and to promote the customized agricultural policies, respectively. (The rest omitted)