JEJU-DO < invest Korea

According to Yonhap News,

(JEJU=Yonhap News) Jeju Island made an official statement that the province will make an KRW 202 billion investment by the year of 2023 in 15 projects of 3 individual sectors. This is part of the local government policy to improve the distribution cycle, to well balance market supply and demand and to push down consumer price for agro-products harvested in winter season in Jeju.

First of all, the province provides government funds worth KRW 98.2 billion in order to stabilize consumer price for agro-products, locally grown in Jeju Island.

Approximately KRW 81.5 billion is allocated for the project, designed to cultivate crops and vegies in categorical variable. The authority also agreed to spend another KRW 22.3 billion to build up a facility to keep freshly harvested Jeju radish clean, rinsing off dirt to get them ready for sale.

A series of other programs are also being pushed ahead to keep prices down for locally produced farm products, to set up a monitoring system for better understanding of crop yields, to give farmers who wish to switch items to non-veggies financial support, to control the whole size of farmland and finally to set a guideline for the scope of subsidy programs.

Since last April, the province started to pick up pending issues for better understanding of the industry in the island by forming a special TF consisting of related institutions, farmers engaged for guidance.


koss@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (Oct 15, 2019)