Candidate Kim Taesung Pledges to Do His Best to Reduce Farmers' and Fishermen's Debt and Realize Basic Income for Rural Areas

A Young Farmer in His 40s Who Turned His Back on the World Due to Debt... Showing the Tragic Reality of Local Farmers and Fishermen

Kim Taesung, a preliminary candidate for the National Assembly representing Yeongam, Muan, and Sinan from the Democratic Party of Korea, expressed condolences on his personal SNS for the late Hwang Sangheon, who passed away on the 2nd after being unable to bear the weight of farm debt.

Candidate Kim lamented, “Although no media outlet reported it, I deeply felt how difficult the life must have been for the young farmer in his 40s from Sangju, Gyeongbuk, who parted with the world unable to overcome the heavy burden of farm debt.”

According to the Korea Rural Economic Institute and Statistics Korea, the scale of debt tends to increase with larger farm sizes and younger age groups. The average debt of farmers in their 40s is 176.64 million won, which is a staggering ten times larger than that of farmers aged 70 and above.

Farmers’ ability to raise capital independently is deteriorating, and repaying debt with farm income is difficult, raising concerns that they may reach a state of financial bankruptcy. Due to the unrelenting debt, agricultural investment is out of the question, making it hard to make a living through farming.

Candidate Kim Taesung explained, “The Yeongam, Muan, and Sinan areas traditionally have a large population engaged in agriculture, fisheries, and livestock farming, and income preservation for these people is directly linked not only to quality of life but also to survival.”

He added, “Repeated climate crises and agricultural disasters have reduced harvests, production costs keep rising, and the burden of farm debt has become an unbearable load. It is now necessary for the public sector to alleviate farm debt and open a path to help farmers and fishermen achieve self-reliance and recovery.”