Special Act on Assistance to Farmers, Fishermen following the Conclusion of Free Trade Agreements.

Subject

Agricultural & rural development, Fisheries

Keyword

Business/industry/corporations Farming Liability/compensation Special fund Agricultural development Inland fisheries Subsidy/incentive

Geographical area

Asia, Asia and the Pacific, East Asian Seas, Eastern Asia, North Pacific, North-West Pacific

Abstract

The purpose of this Act is to contribute to the business management and to the stability of livelihood of farmers, fishermen, etc. by improving the competitiveness of agriculture, fisheries, etc. and formulating efficient measures for supporting farmers, fishermen, etc. who sustain or are likely to sustain any loss or damage in the course of implementing free trade agreements. Article 13 provides for the establishment of a Support Fund for implementation of free trade agreements to secure financial resources necessary to take measures to support farmers, fishermen who have sustained or are likely to sustain losses and damage as a consequence of the implementation of an agreement. The text – consisting of 24 articles – provides, amongst other things, for the following: basic principles for support of farmers, fishermen; formulation of comprehensive measures to support farmers and fishermen; support for improvement of competitiveness of agriculture, fisheries; compensation for loss and damage caused by implementation of free trade agreements; criteria for payment of direct compensation for losses and damage; subsidization for discontinuance of business.

Full text

English

Website

elaw.klri.re.kr

References - Legislation

Implemented by

Enforcement Decree of the Special Act on Assistance to Farmers, Fishermen following the Conclusion of Free Trade Agreements.

Legislation | Korea, Republic of | 2011 (2013)

Keyword: Business/industry/corporations, Farming, Liability/compensation, Special fund, Agricultural development, Inland fisheries, Subsidy/incentive

Source: FAO, FAOLEX