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 calledon the government to collect ruling party members’ opinions on the bill a week ago. Prime