According to the WTO Agreement on Agriculture, all the WTO Members are to establish a fair and market-oriented agricultural trading system, and amongst others, the most important agreement was to accomplish tariffication without exceptions of the agri...
According to the WTO Agreement on Agriculture, all the WTO Members are to establish a fair and market-oriented agricultural trading system, and amongst others, the most important agreement was to accomplish tariffication without exceptions of the agricultural product. Some members, including Korea, however, allowed to maintain rice import restriction measures as an exception to the tariffication without exceptions. The exceptional import restriction was to stay for 10 years from the establishment of the WTO. As the expiry date approaches, Korean government decided to negotiate for the further prolongation of the rice import restrictions. As a result of the negotiation in the year 2004, Korea is once again allowed to prohibit rice importation for another 10 years. Instead, the Minimum Market Access volume would be increased from 4.4% of domestic consumption in 2005 to 7.96% in 2014. Currently the WTO DDA negotiation for further trade liberalization is going on, and Korean rice market cannot be closed forever contrary to the general trend of globalization of the world. This another 10 years, realistically, should be the last chance for restructuring Korean farming society. Korean farming society and government should think seriously when to open Korean rice market for the national interest.