Finance Minister Choi Sang-mok says the government will provide more than 400 billion won, or about 273 million U.S. dollars, to support farms affected by the recent wildfires in the country’s southeastern region. 

The minister announced the plan Wednesday during a meeting with economy-related ministers, saying the government will swiftly provide the funds to minimize the impact of the fires on supplies and prices of farm products.

The government plans to use the funds for emergency living expenses for farmers and to help them restore facilities and equipment and purchase feed. 

Additionally, the government will provide disaster recovery funds and relief funds after fully assessing the damage. 

The government also decided to provide the affected farms with agricultural machinery and equipment free of charge or at discounted rates, while offering tax cuts, deferrals for electricity and communication bills, and relief on the four major insurance premiums.

The minister vowed to quickly restore essential infrastructure such as housing, electricity and water to help residents in the affected areas quickly return to their daily lives.