Applications Accepted Until the 25th
Ensuring Income Stability for Farmers
Namwon City, North Jeolla Province (Mayor Choi Kyungsik), will provide payments using the Agricultural Product Price Stabilization Fund, a pledge project of the 8th popularly elected administration.
According to the city on the 9th, this price stabilization fund was implemented to stabilize the income of rice farmers who have been struggling due to the drop in rice prices last year.
This support was finalized through the Namwon City Agricultural Product Price Stabilization Fund Deliberation Committee on April 1, with the support rate and payment criteria confirmed. The support rate is set at 25 KRW per square meter (㎡), and will be provided for rice cultivation areas in 2024 from a minimum of 1,000㎡ up to a maximum of 30,000㎡.
The eligible recipients are farmers and agricultural corporations who, as of September 30 last year, were eligible for public direct payments, have their address in Namwon City, and cultivated rice in farmland located in Namwon City (including adjacent areas). The support is expected to cover approximately 8,300 farms, an area of 7,100 hectares, with a total budget estimated at 1.775 billion KRW.
Applications can be submitted until the 25th by turning in the application form to the Eup, Myeon, or Dong Administrative Welfare Centers where the 2024 public direct payment was applied for. The city aims to secure a total of 10 billion KRW for the Agricultural Product Price Stabilization Fund as a pledge project of the 8th popularly elected administration to support stable farming activities and management stability for farmers.
In 2023, 4 billion KRW was raised, another 4 billion KRW in 2024, and 1 billion KRW is planned for 2025, totaling 9 billion KRW raised so far. The fund will be actively used to supplement farmers' incomes in the event of agricultural product price drops.
A city official stated, "We hope this support will be of some help to farmers who have been struggling with falling rice prices last year as they prepare for this year's farming," and added, "We will continue to expand support for the management stability of farmers in the future."
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