The Burden of Farming Eased... Gyeongbuk Province Offers Youth Farmers Half-Price Land Rent

Agricultural Land Bank Lease Contracts, Up to 2 Million KRW Annually

[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-sun] Gyeongbuk Province is launching a project to support farmland rental fees for young farmers.

The Young Farmers Farmland Rental Fee Support Project is a program that has been implemented since last year, reflecting voices from the field that securing farmland is the biggest challenge among young people preparing to start farming.

The support targets agricultural management entities aged between 18 and 39 who have signed lease contracts through the Korea Rural Community Corporation's Gyeongbuk Regional Headquarters Farmland Bank Project. Applicants must have an address in Gyeongbuk Province as of the application date and be actively engaged in farming.

Young farmers wishing to receive farmland rental fee support can apply at their local city or county office (eup, myeon, dong office) by March 31.

If finally selected as a beneficiary, they can receive 50% of the farmland rental fee contracted with the Korea Rural Community Corporation (up to 2 million KRW annually) for three years.

The scale of applicants is expected to reach about 1,400 hectares based on lease contract status through the Korea Rural Community Corporation Farmland Bank as of the end of January.

Last year, about 600 young farmers (covering approximately 790 hectares) received farmland rental fee support. This year, many young farmers have already inquired about rental fee applications even before the project application period.

Kim Ju-ryeong, Director of the Agriculture, Livestock, and Distribution Bureau, said, “To alleviate the burden of securing farmland, which is the biggest obstacle to starting farming, we are the first metropolitan local government to support farmland rental fees for young farmers.”

Director Kim added, “Through various policy projects including the farmland rental fee support project implemented by Gyeongbuk Province, we will strive to attract more young people to rural areas and help them settle stably.”

For detailed information such as how to apply, please visit the Gyeongsangbuk-do website (Notice Board) and the Gyeongbuk Young Farmers Portal website.