Agricultural Policy Reform and Structural Adjustment: Historical Evidence from Korean Experience

Abstract

Korean agriculture has been facing several structural problems resulting from rapid structural changes since 1960's, some of which are preventing a smooth policy reform in accordance with the WTO regime. Political burden from rice monoculture, policy ineffectiveness from too large farm employment, and inflexibility in policy options from high dependency of farm household income on farm income are pointed out and discussed in detail.direct payment, market price support(MPS), producer support estimate(PSE), rice monoculture, two-tier price scheme, Agricultural and Food Policy,