President Yoon Suk-yeol will likely veto a bill that the National Assembly passed last month to revise the Grain Management Act. The bill requires the South Korean government to purchase surplus rice from the market if rice production exceeds consumers’ demand by 3 to 5% or if rice prices fall by 5 to 8% compared to the previous year. Yoon will likely veto the bill on Tuesday, marking the first time he will exercise his veto power since assuming office last year.

Yoon called on the government to collect ruling party members’ opinions on the bill a week ago. Prime Minister Han Duck-soo and Agriculture minister Chung Hwang-keun have voiced their opposition to the bill, and Yoon described the bill as akin to “pouring tax money into a bottomless jar.” Two-thirds of the National Assembly must approve the bill to overcome a presidential veto, thus making it unlikely this bill will pass.