The QNA report reported that S.Korea is planning to increase the rice import tariff to protect the rice industry.
The plan is a move to liberalize the rice industry from next year.
The government will bring the tariff rates to the notification on World Trade Organisation by the end of this September.
The reason for making the import tariffs more expensive is to make the consumption of locally produced rice more as to consume the rice which is imported from outside.
US and Chinese rice exporters are watching the Korean government’s decision on grain import tariffs after Seoul said in July that it would scrap caps on rice imports from 2015, potentially opening up the politically sensitive market to more imports.
The ministry officials said that the increase in tariff for rice importation upto 400% is enough to protect the rice industry.