Gyeongnam Province, "Preventing Agricultural Aging" ... Supporting Young Farmers' Settlement

Customized Policies for Securing Future Agricultural Workforce and Stable Rural Settlement of Young Farmers

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 15th that it plans to invest 40.8 billion KRW in seven projects to prevent the rapid aging of agriculture and rural areas and to promote the influx of young people into the field.

The proportion of elderly farmers aged 65 and over among agricultural management entities in Gyeongnam increased significantly from 45.3% (141,281 people) in 2015 to 51.4% (151,073 people) in 2019.

Accordingly, Gyeongnam Province is promoting customized support projects to secure future agricultural manpower and help young farmers settle in rural areas.

The main projects include the Young Successor Farmer Settlement Support Project, Successor Agricultural Manager Development Support Project, Young Farmer Direct Farming Subsidy Project, Farming Intern Project, Management Practice Lease Farm Creation Project, Young Farmer Community Activation, and Professional Consultant Support.

The Young Successor Farmer Settlement Support Project provides up to 1 million KRW per month for three years to young people aged 18 to under 40 in the province, along with support for start-up funds (up to 300 million KRW), farmland leasing, farming technology education, and management consulting.

The Successor Agricultural Manager Development Support Project offers national treasury loans (2% annual interest, 5-year grace period, 10-year installment repayment) of up to 300 million KRW per individual aged 18 to under 50.

The Young Farmer Direct Farming Subsidy Project supports young farmers excluded from the national support project range (aged 18 to under 40) by providing a living stability farming settlement support fund of 1 million KRW per month for one year in the form of vouchers.

The Farming Intern Project helps young people who wish to engage in farming employment to receive practical training and learn farming and management techniques from leading farmers.

The targets are farming cooperative corporations or agricultural corporations and social economy organizations, leading farms, etc., as defined by the "Act on the Promotion and Support of Agricultural and Fishery Management Entities." Each young intern is supported with a salary of up to 1 million KRW per month (50% of monthly wages), with a maximum annual salary of 12 million KRW.

Currently, 11 management practice lease farms have been established in the province, and 1.2 billion KRW is being invested to create four facility greenhouses.

After facility completion, these will be leased at up to 50% of the surrounding market price for three years to independent managers aged 18 to under 40 or young farmers who have been independently managing for less than three years.

Additionally, to activate young farmer communities, 120 million KRW and customized counseling are provided to 12 club groups composed of young farmers aged 18 to under 45.

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Lee Jeong-gon, Director of the Agricultural Policy Bureau of Gyeongnam Province, said, "Last year, the number of new agricultural management entity registrations by young farmers under 40 was 2,773 households, a 122% increase compared to the previous year," adding, "We will continue to strengthen customized support desired by young farmers and do our best to lead rural change."