Government Provides 10.1 Billion KRW Support to Farms Affected by Heavy Snow in Gangwon

Recovery Costs for Vinyl Greenhouses and Ginseng Facilities... Support for Pesticide and Green Onion Expenses

On the 1st, heavy snow fell in the Misiryeong section of Yongdae-ri, Buk-myeon, Inje-gun, Gangwon-do, and heavy machinery was deployed to carry out continuous snow removal work. (Image source=Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] The government announced on the 29th that it will provide 10.1 billion KRW in disaster recovery funds to 1,213 farming households in Gangwon Province affected by heavy snowfall.

Earlier, from the 1st to the 2nd, 114 hectares of agricultural facilities were damaged due to heavy snowfall. Accordingly, the Ministry of Agriculture, Food and Rural Affairs decided to support 10.1 billion KRW for restoring agricultural facilities, pesticide costs for crops, and replanting expenses. According to the ministry, the recovery funds will be provided to farmers through the relevant local governments on the same day. "Nongyakdae" refers to pesticide costs, and "Daepadae" refers to costs incurred when replanting crops.

Facilities such as vinyl greenhouses and ginseng facilities will receive restoration funds according to their type and specifications. For crops (fruit trees), 2.49 million KRW per hectare is provided for pesticide costs. If the damage is severe enough to require replanting, the replanting support funds are based on 19.42 million KRW per hectare for blueberries and 14.37 million KRW per hectare for apples.

Additionally, for farming households receiving agricultural and livestock management funds with damage rates of 30% or higher, the interest rate will be reduced from 1.5% to 0%, and repayment deferrals will be promoted. If the damage rate is between 30% and 49%, repayment is deferred by one year; if 50% or higher, by two years. Farmers temporarily facing management crises due to disasters can receive agricultural management recovery funds with an interest rate of 1% (5 years grace period, 7 years repayment). This is a method of refinancing borrowed funds with long-term low-interest funds.

The disaster recovery loan (interest rate 1.5%, 5 years grace period, 10 years repayment) can be applied for starting from the 2nd of next month by affected farmers obtaining a damage confirmation certificate at the eup/myeon/dong office and applying at the local agricultural cooperative. Additionally, for insured ginseng facilities and vinyl greenhouses, insurance claims will be paid immediately after facility restoration. For hopeful farming households, 50% of the estimated insurance payout will be advanced even before restoration is completed.

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