(CNN) -- South Korea's worst ever foot-and-mouth epidemic could cost the country $1.4 billion, the agriculture ministry told CNN. More than two million animals have been killed so far.
The country has lost millions of dollars in exports already from the 129 confirmed cases, according to the ministry for food, agriculture, forestry and fisheries. The $1.4 billion cost takes into account vaccinations, culling and compensation for farmers.
Up to 22% of the swine population is being culled and almost 4% of cattle. Vaccinations are continuing across the country as the government tries to limit the number of animals that need to be destroyed.
The government introduced travel restrictions for livestock and ordered cattle markets to be shut shortly after the latest outbreak on November 28 in the southern city of Andong.
As a result, pork and beef imports are up and retail prices of both have risen almost 9% in just one month.
The spread of bird flu is also putting pressure on South Korean farmers, with almost 4 million birds being culled so far.
The U.S. Department of Agriculture describes foot-and-mouth disease as "a severe, highly contagious viral disease of cattle and swine." There are vaccines, but they must be matched to the specific type and subtype of virus causing the outbreak.