Roh Calls For Effort To Upgrade Competitiveness Of Cattle Farms
SOUTH KOREA - President Roh Moo-hyun Friday pledged to work out comprehensive measures to minimize the adverse impact of a South Korea-U.S. free trade deal on Korean cattle farmers.
27 April 2007
1 minute read
Making a rare visit to a cattle farm in Pyeongchang in the remote mountainous province of Gangwon, the president suggested that the government and farmers together devise measures to further heighten the competitiveness of the local cattle industry.
Since the conclusion of the Korea-U.S. free trade agreement (FTA) in early April, fears have mounted that Korean cattle farms would be devastated by a massive inflow of cheap imported beef. Indeed, the price of cattle in the nation has dropped sharply over the past month, with the price of a 600-kilogram cow falling from 5.3 million won to less than 5 million won, according to a survey by the Agriculture Ministry.
"President Roh visited a cattle farm to encourage domestic cattle farmers, as the sector is expected to sustain the most serious backlash from the imports of U.S. beef," presidential spokesman Cheon Ho-seon said.
"The president also had serious discussions with farmers on how to upgrade the cattle industry." Calling the South Korea-U.S. FTA a win-win deal for both economies, the president has said his government will make all possible efforts to minimize damage to the nation's agriculture, pharmaceutical and other vulnerable industries. He also vowed to faithfully stick to the beef market opening plan in the FTA with the U.S.
