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COUNTRY FOCUS Korea Korea’s PSE fell from 68% to 60% between 2002 and 2003, due mainly to steep rises in world prices for a number of commodities. 3%. Deregulation of farmland ownership has continued as has reform of the rice market. Korea is also investing in improving the production infrastructure. Policy measures for rural development were backed by new legislation in 2003. ● ● ● The share of market price support has fallen from 99% in 1986-88 to 93% in 2001-03. Prices received by farmers in 1986-88 were 236% higher than those received in the world market in the same year.

Consumer Nominal Assistance Coefficient (NACc): the ratio between the value of consumption expenditure on agricultural commodities (at farm gate) and that valued at border prices. General Services Support Estimate (GSSE): the annual monetary value of gross transfers to general services provided to agriculture collectively, arising from policy measures that support agriculture regardless of their nature, objectives and impacts on farm production, income, or consumption. 38 AGRICULTURAL POLICIES IN OECD COUNTRIES: AT A GLANCE – ISBN 92-64-01603-1 – © OECD 2004 I.

It provides a concise, consistent snapshot of support to agriculture in OECD member countries and the European Union as a whole. org/agr/policy/ under > Statistics). AGRICULTURAL POLICIES IN OECD COUNTRIES: AT A GLANCE – ISBN 92-64-01603-1 – © OECD 2004 41 II. COUNTRY FOCUS Australia Support to Australian agriculture is the second lowest in the OECD, and in 2003 the PSE remained unchanged at 4%, despite a small increase in diesel fuel rebates and payments under the Exceptional Circumstances Relief Payment Scheme.

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