Gimcheon-si Provides 3-Year Farming Settlement Support Fund to 21 Young Entrepreneur Farmers

Exterior view of Gimcheon City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Gyeongsangbuk-do Gimcheon City announced on the 20th that it has selected 21 candidates for the Young Farmer Settlement Support Project (Young Startup Farmers).

'Young Startup Farmers' is a system that supports the settlement of agricultural talents aged 18 to under 40 with less than 3 years of farming experience, in order to alleviate the aging trend of farming households and secure the sustainability of agriculture. Gimcheon City selected 16 young startup farmers in 2018 and 23 last year.

Young startup farmers receive a farming settlement support fund of 1 million KRW per month in the first year, 900,000 KRW in the second year, and 800,000 KRW in the third year for three years, based on the start of independent management (the point of registration of the agricultural management entity).

They also receive support such as successor farmer development funds (loans up to 300 million KRW), preferential guarantees from the Agricultural, Forestry and Fisheries Credit Guarantee Fund (Nongshinbo), priority support for farmland leasing, and farming technology education. Eligible young farmers must fulfill obligations such as maintaining farming for six years, completing education, and keeping management books.

A Gimcheon City official stated, "We will help young startup farmers resolve unstable income issues experienced in the early stages of farming and enable smooth settlement in farming."

This content was produced with the assistance of AI translation services.