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Act on Distribution and Price Stabilization of Agricultural and Fishery Products.
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Countries: Korea, Republic of
Regions: Asia;North Pacific;North-West Pacific;East Asian Seas;Eastern Asia;ASIA AND THE PACIFIC
Date of original Text: 28/01/2000
Date of Consolidation: 17/05/2010
Related Web Site: www.klri.re.kr
Type of Text: Legislation
Abstract: This Act regulates the smooth distribution of agricultural and fishery products so as to maintain their prices at proper levels to protect the interests of both consumers and producers. It consists of 8 Chapters divided into 91 articles.The Act provides for the: designation of major production areas of agricultural products or major production water surfaces of fishery products to encourage or control the production and shipment of agricultural and fishery products; conduction of agricultural and fishery monitoring every year to survey and analyze weather information, production areas, the state of crops, the quantities of inventories, the trends of consumption and overseas market information, etc. of principal agricultural and fishery products of which prices have fluctuated; encouragement of local agricultural and fisheries cooperatives, local livestock cooperatives, etc. (Chapter II).This Act introduces the wholesale trade corporation system, and a system in which an individual shall be allowed to open a wholesale market for agricultural and fishery products, and stipulates the method of operating the system (Chapters III and IV). The Government shall establish the Agricultural and Fishery Product Price Stabilization Fund as provided for in Chapter V. A basic policy for upgrading the distribution structure for agricultural and fishery products shall be formulated (Chapter VI). The remaining Chapters contain supplementary and penal provisions.
Comment: This Act incorporates all amendments in force as at 17 May 2010 (Act No. 10303).
Main subjects: Agriculture
Main subjects: Fisheries