SEJONG, Feb. 13 (Korea Bizwire) — South Korea said Thursday it will roll out a set of measures to support flower farmers who have been facing falling demand, as the spread of the new coronavirus has led to the cancellation of outdoor ceremonies such as graduations.
Flower farms facing financial troubles due to the novel virus are eligible to apply to a business rehabilitation fund of 30 billion won (US$25.4 million) designed to help farmers facing unexpected events in the market, according to the Ministry of Agriculture, Food and Rural Affairs.
The demand for flowers in South Korea has fallen sharply over the past few weeks as local schools canceled graduation or entrance ceremonies amid rising fears over the spread of the COVID-19 virus.
The February-March period is traditionally regarded as the peak season for flower growers and shops here, as this is when such events are held.
The agriculture ministry and related organizations will purchase 2.7 million flowers to express support for growers through March.
In an effort to promote demand, South Korea is planning to join forces with online shopping malls and convenience stores to expand sales and to work closely with major hotel chains, it added.