Seoul City Provides Up to 10 Million KRW per Farm for Agricultural Machinery Purchase Support

Support Planned for 30 Farms

The Seoul Metropolitan Government announced on the 1st that it will provide up to 10 million KRW per farm to support the purchase of agricultural machinery such as agricultural cultivators and agricultural pest control machines for farmers in the Seoul area.

The city stated that due to the aging agricultural population and the resulting labor shortage, farms are facing difficulties, and to reduce the burden on farms while increasing productivity and income, it will promote the ‘Seoul Agricultural Machinery Purchase Support Project for Farmers.’ Based on the analysis of past support status, it is expected to support the purchase costs of about 30 machines this year.

For agricultural machinery costing less than 50 million KRW, 60% of the purchase cost (30% from Seoul city and 30% from NongHyup) will be supported, up to a maximum of 6 million KRW. For high-priced machinery costing 50 million KRW or more, support of up to 10 million KRW will be provided, with the amount finally decided by the selection council. The applicant farm must cover any difference beyond the support amount.

The eligible machinery is limited to those listed in the ‘Government-supported Agricultural Machinery Catalog’ issued by the Korea Agricultural Machinery Industry Cooperative, with typical examples including cultivators, storage facilities, and dryers.

The support procedure is as follows: first, farms planning to purchase agricultural machinery apply for support at the local NongHyup branch; the selection council then selects recipients considering factors such as farm size, age, and income level; finally, the selected farms purchase and receive the machinery, then apply for the subsidy at the local NongHyup (head office).

Applications for support can be submitted by visiting local NongHyup branches from the 6th to the 24th, and the final selected farms will be individually notified around the end of April.

□ Eligibility requires that applicants reside in Seoul and have been cultivating farmland located in Seoul for more than one year, and be registered agricultural management entities. Support is limited to one type of machinery (including attachments) per farm. However, farms that have already received support in 2020 or 2021 are excluded to ensure benefits reach as many farms as possible.

For more details, inquiries can be made to the Seoul Metropolitan Government’s Agriculture, Fisheries and Distribution Division Agricultural Support Team, the Seoul Regional Headquarters of NongHyup Central Association, or local NongHyup branches.

Jung Deok-young, head of the Agriculture, Fisheries and Distribution Division of Seoul, said, “We will support the purchase of agricultural machinery that can reduce the labor burden on aging farms to help create stable agricultural income,” adding, “We hope this small support will be helpful to Seoul farmers who are struggling with rising prices.”