Assembly rejects grain bill vetoed by Yoon in revote

Lawmakers take part in a revote for a revision to the Grain Management Act at the National Assembly in Seoul, April 13. Yonhap

The National Assembly on Thursday voted down a contentious bill requiring the government purchase of surplus rice that was put up for a revote after President Yoon Suk Yeol vetoed the legislation.

The revision to the Grain Management Act was rejected in a 177-112 vote.

Yoon rejected the revision bill during a Cabinet meeting last week, requesting the National Assembly reconsider the bill amid concerns that it could lead to a waste of government resources.

Two-thirds approval is needed for a bill rejected by the president to be passed by parliament again. The main opposition Democratic Party of Korea (DPK), which railroaded the bill on March 23, only holds 169 out of 300 seats.

The DPK has argued the vetoed bill can protect farmers and stabilize rice prices, as rice demand has been on a steady decline due mainly to changes in diet and eating habits.

But critics say the legislation is a short-sighted populist policy aimed at wooing farmer voters ahead of next year's general elections, stressing the measure would end up worsening overproduction and causing rice prices to fall further. (Yonhap)