South Korea to open rice market to imports

By Park Sae-jin Posted : July 18, 2014, 17:04 Updated : July 18, 2014, 17:04

 

South Korea plans to open its rice market to imports starting Jan. 1, 2015, the government announced on Friday.

The Ministry of Agriculture, Food and Rural Affairs said the government will impose 300-percent to 500-percent tariffs on rice imports to protect farmers.

If imports of rice exceed a proper level, the government will invoke special safeguards, the ministry said.

However, farmers’ groups and opposition parties opposed the plan, vowing to stage an all-out protest against it.
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