The Yoon Suk-yeol administration's exercise of the right to request reconsideration (veto) allowed the rice management act, which had been discarded, to pass through the committee's subcommittee. Both the ruling and opposition parties reached an agreement to pass the bill, supplementing the issue that the rice management act could burden national finances.
The National Assembly's Agriculture, Food, Rural Affairs, Oceans, and Fisheries Committee's bill examination subcommittee voted on the amendment to the rice management act on the 24th with agreement from both parties. The law on the distribution and price stabilization of agricultural and fishery products (Agricultural Law), which has not yet been reviewed among the four agricultural laws, will be discussed again on the 29th.
The rice management act contains provisions for the government to purchase surplus rice and to compensate the difference if rice prices fall below the average level. However, the 'price stabilization system' for supporting the difference related to falling rice prices will be reviewed in the Agricultural Law. Previously, the Yoon Suk-yeol administration exercised a veto twice on the rice management act due to concerns over financial burdens.
The Democratic Party of Korea accepted some of the People Power Party's demands during this subcommittee meeting. The People Power Party added provisions to the bill for ▲ financial support for farmers cultivating crops other than rice ▲ strengthening the criteria for mandatory government purchases to minimize the side effects of overproduction. There was also an agreement to adjust rice cultivation areas in advance and proactively manage rice supply and demand.
Lee Won-taek, the bill subcommittee chair from the Democratic Party, met with reporters after the meeting that day and explained, "There was a unified opinion from both parties that we should adjust rice cultivation areas in advance and pay attention to proactive supply management of the rice produced to align demand and supply," adding, "The support for the difference will be transferred to the Agricultural Law."
The opposition's representative, Jeong Hee-yong, a member of the People Power Party, said, "We passed the bill with alternatives aimed at reducing the side effects of the rice management act and enhancing the stability of the system," noting, "It is fortunate that the Democratic Party has stepped back this time unlike past bills."