The South Korean government will compensate livestock farms 50 percent of the damage and losses caused by the wide-spreading foot-and-mouth disease in advance to ease their financial burdens, the finance ministry in Sejong said Monday.
Since the first outbreak in the central region on Feb. 5, nearly 800 cows infected with the FMD have been culled for the past week, raising concerns that the animal disease is spreading widely throughout the nation.
(Yonhap)
The country has already been still struggling with avian influenza for nearly three months, with more than 30 million chickens and ducks culled.
Finance Minister Yoo Il-ho said the government will give out half of the compensation to the FMD-hit farmers before the exact damage is estimated.
"If the FMD spreads out widely like bird flu, the livestock farmers will suffer a huge loss," said Yoo. "The fiscal authorities are making all-out efforts to support the damaged farms."
The finance ministry will also offer government-backed loans to help them stay afloat and cover vaccination costs. (Yonhap)
