President Lee Jae-myung stated that the Rural Cooperation Fund not only supports rural areas but also serves as a good mechanism to prevent local extinction and alleviate the concentration of resources in the capital region.
During a Cabinet meeting at the Blue House, President Lee expressed, "I hope people do not view income support for rural areas as handouts or wasteful spending."
He noted that approximately 325.5 billion won has been accumulated in the Rural Cooperation Fund so far, which he deemed insufficient, adding, "Since it is a voluntary accumulation rather than a mandatory one, it seems to have not functioned properly."
President Lee announced plans to allocate 200 billion won in next year’s budget and an additional 500 billion won in the future, aiming to accumulate over 1 trillion won.
He also pointed out that while the government has established various measures to compensate farmers for losses due to free trade agreements (FTAs), these measures have not been effective, leading to a significant distrust among farmers towards the government.
"Market expansion must continue, and while there are areas that benefit, there are also those that suffer," he emphasized, stating that appropriate support should be provided to sectors that are adversely affected. He added that this is a small step towards restoring trust in the government.
Furthermore, he committed to innovating the distribution structure of agricultural and fishery products, stating, "We will correct the phenomenon where prices plummet in production areas while retail prices in urban areas continue to rise."
* This article has been translated by AI.
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