219 Billion Won Disaster Recovery Fund Provided to Farms Affected by Last Month's Cold Wave

Support for Additional Crop Damage
at 6,813 Farms Nationwide from March to April

Yoo Chan-hyung, Vice Chairman of the National Agricultural Cooperative Federation (second from the left), visited potato farms within the jurisdiction of Gwanghwal Nonghyup in Gimje-si, Jeollabuk-do on the 15th of last month to assess the damage caused by heavy snow and cold waves. (Photo by Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] The Ministry of Agriculture, Food and Rural Affairs announced on the 23rd that it will provide 21.9 billion KRW in disaster recovery funds for cold wave damage in the agricultural sector that occurred in early January this year.

The disaster recovery funds will be paid to 6,813 farms based on the results of a detailed local government survey on damage to 8,886 hectares of crops and livestock caused by the cold wave last month.

For vegetables, regardless of the item, 2.4 million KRW per hectare of pesticide area will be supported, and 740,000 KRW for potatoes. In cases where severe damage requires sowing other crops, support will be provided per item such as 5.86 million KRW per hectare for radish and cabbage, 18.4 million KRW for tomatoes and peppers, 22.64 million KRW for strawberries, and 3.8 million KRW for potatoes.

In addition, a living expense of 1.23 million KRW based on a four-person household will be provided to farms with a damage rate of 50% or more.

Financial support such as interest reduction and repayment deferral will also be promoted for 110 farms with a damage rate of 30% or more among those who received agricultural and livestock management funds. For 410 farms requiring separate management funds, 4.7 billion KRW in disaster countermeasure management funds will be provided.

Meanwhile, the Ministry of Agriculture, Food and Rural Affairs stated that it will promote recovery fund support in March and April based on the confirmation of causality and detailed survey results for fruit trees showing frost damage symptoms during the cold wave period in January and additional identified damaged items.

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