On September 18, 2014 the Korean Ministry of Agriculture, Food and Rural Affairs (MAFRA) issued a press release announcing the liberalization of its rice market through tariffication. Korea will impose a tariff of 513 percent on imports of rice above a set quota of 408,700 MT beginning January 1, 2015. The announcement was in connection with Korea's decision earlier this year to move away from a system of rigid import quotas under a WTO-imposed Minimum Market Access agreement (MMA) to a tariff-based system