Price labelling system of agricultural machinery
Agricultural Mechanization Promotion Act, Guidelines on the Price Labelling System of Agricultural M
(Background) The Ministry of Agriculture, Food and Rural Affairs enacted and implemented the Guidelines on the Price Labelling System of Agricultural Machinery and Its Components requiring sellers to label the actual price of the machinery and prohibiting the labelling of manufacturer’s suggested retail price.
(Main issue) Requesting documents regarding the cost of manufacture of imported agricultural machinery leads to the disclosure of confidential information, thereby triggering business risks.
Resoultion and Results
(Resolution) Hosted roundtable discussions to offer suggestions to the relevant government bodies and continuously engaged in talks to enable legislative improvement.
(Result) The Ministry of Agriculture, Food and Rural Affairs amended the Guidelines on the Agricultural Machinery Purchase Support 2017, and removed the provision which sets forth manufacture cost report submission requirements for institutions responsible for producing manufacture cost report of agricultural machinery receiving government support.