Assembly approves grain purchase bill

At its plenary session Wednesday, the National Assembly approved a bill on a 4-percent increase in the price of grain to be purchased by the government this year.

The government earlier submitted a 3-percent price hike plan, but the Assembly`s Agriculture-Forestry and Fisheries-Maritime Affairs Committee raised the figure to 4 percent Monday.

Under the bill, the government will purchase 828,000 tons of rice from farmers this autumn at a price of 60,440 won per 40 kilograms, up 2,320 won from 58,120 won a year ago.