GANGWON-DO < invest Korea

(CHUNCHEON=Yonhap News) Gangwon Province will inject KRW 168.7 billion in 76 projects in the food sector including stabilization of rice price.

The province announced that it will provide KRW 45.1 billion in order to stabilize rice price hit by 3-year-long overproduction and declining demand.

This project is aimed at shifting rice production to other crops and establishing rice export complex to help rice farming community undergoing difficulties.

Gangwon will also inject KRW 14.2 billion in a project to nurture its staple crops, which includes potato, corn, and mixed grains, into brand-name products.

KRW 56.9 billion will be invested to establish foundation for organic farming and refurbish distribution and processing facilities.

Along with such efforts, the province will invest KRW 24.9 billion in agricultural infrastructure maintenance project to cope with abnormal weather conditions and provide KRW 27.6 billion to support agricultural business.

"We will hear various opinions on the development of the rice industry, distribution of environment-friendly agricultural products, and difficulties of agricultural business to reflect them in our policy planning," a provincial official said.

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Source: Yonhap News (Jan. 15, 2017)