Hamyang-gun Supports 'Agricultural Electricity Rate Increase Subsidy'

Contingency Fund Allocated to 1,499 Locations Worth 120 Million KRW

Helps Reduce Farm Management Burden and Stabilize Production Base

The Agricultural Technology Center of Hamyang-gun, Gyeongnam announced on the 4th that it has disbursed funds for the support project covering the increase in electricity charges for agricultural use by utilizing contingency funds.

To alleviate the production cost burden on farmers struggling with the rise in electricity charges for agricultural use and to ensure stable farm management, contingency funds (30% provincial funds, 70% county funds) were used to support part of the increased electricity charges.

Hamyang County Office.

Electricity charges for agricultural use have been significantly raised three times since April 2022. For agricultural use category Gap, the rate increased from 16.6 KRW/kWh to 32.3 KRW, a 96.9% increase, and for category Eul, it rose from 34.2 KRW/kWh to 50.3 KRW, a 47.1% increase.

This support for the increase in agricultural electricity charges provides a fixed amount covering 50% of the average difference in electricity charges between January to March 2023 compared to the same period in 2022. The support unit price is 12 KRW/kWh, and it was provided on a scale of 120 million KRW to 1,499 facilities using electricity confirmed to be for agricultural use by farmers, corporations, or producer organizations with agricultural management entities residing in Hamyang-gun.

Applicants who did not receive payment this time due to unconfirmed agricultural management entities or incomplete documents are expected to receive payment via bank transfer around mid-August after supplementing their documents.

Jung Soon-woo, director of the Agricultural Technology Center, said, “Amid worsening external conditions such as rising international oil prices, high interest rates, and high inflation, the sharp increase in electricity charges is adding to the burden on farms,” and added, “We hope this support will help reduce the burden on farm management and stabilize the production base.”