date:Jul 21, 2014
nally enjoyed almost mythical status.
Under pressure to open its markets, Seoul has little room for maneuver over the issue with a 20-year-old World Trade Organisation (WTO) agreement on import quotas expiring at the end of 2014.
The rice market will be protected by setting maximum tariffs in accord with the WTO, agriculture minister Lee Dong-phil said in a statement.
At a news briefing, he added that this level would be from 300-500 percent. That would bring prices for imported rice in line