ANNOUNCEMENT 14 Jun 2014

On 14 June 2014, the Ministry of Agriculture, Foods and Rural Affairs announced a development plan for Korean strawberry producers. According to the plan, a total of 838 billion KRW (ca. 761 million USD) shall be spent for the industry over the next 8 years. Of the total, 600 billion KRW shall be contributed by the government. The remaining 240 billion KRW shall be contributed by the participants themselves. The ministry motivates this intervention as follows: “Through this comprehensive promotion plans, we aim to boost the competitiveness of Korean strawberry industry and to increase the strawberry exports to 100 million USD from 30 million USD.”

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 14 Jun 2014 | Removal date: 12 Jun 2022
Still in force

Financial grant

For facility upgrades of strawberry productions, the ministry allocated 662 billion KRW (ca. 602 million USD). 95.5 billion KRW (ca. 86.8 million USD) is forseen for R&D of new high-quality strawberry species. Besides, 71.9 billion KRW (ca. 65.3 million USD) is assigned for distribution and export support, such as global market research, marketing, and setting up local strawberry clusters. Out of 838 billion KRW, 348 billion KRW are an outright grant and 242.2 billion KRW take the form of loans to Korean producers.

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AFFECTED PRODUCTS