Last Year Farm Household Income Up 2.8% Year-on-Year... Chungbuk Tops Nationwide at Around 68 Million Won

Provided by Korea Forest Service

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Last year, the average annual income per household of forest households nationwide was 38.13 million KRW, up 2.8% from the previous year (37.11 million KRW). Among regional forest household income statuses, Chungbuk recorded the highest income level nationwide with about 68 million KRW.

According to the Korea Forest Service's "2021 Major Forest Household Economic Survey" released on the 24th, the total income per forest household last year was 38.133 million KRW, an increase of 1.028 million KRW from 37.105 million KRW in 2020.

The increase in total income is analyzed to be due to the increased production of nuts and astringent persimmons, as well as increased sales revenue from timber and collected forest products.

Looking at forest household income by forestry business type, landscaping material business had the highest income last year at 66.66 million KRW, followed by chestnut cultivation (42.02 million KRW), collection business (41.05 million KRW), afforestation and logging business (40.22 million KRW), and fruit cultivation business (35.74 million KRW) among high-income sectors.

Major Indicators by Business Sector. Provided by the Korea Forest Service

Conversely, the lowest income business was mushroom cultivation, with the forest household income per household last year recorded at 28.73 million KRW.

Reduced household expenditures of forest households also contributed to increasing income per household. For example, forestry income last year increased by 5.2% to 12.39 million KRW, while household expenditures decreased by 1.9% from 29.58 million KRW to 29.01 million KRW.

Additionally, forest household assets increased by 5.1 percentage points to 506.7 million KRW, and liabilities decreased by 5.6 percentage points to 27.29 million KRW compared to the previous year, which the Korea Forest Service analyzed as factors that raised overall forest household income.

Key Indicators by Region. Provided by the Korea Forest Service

In regional forest household income, Chungbuk recorded 686.69 million KRW, which is 30.536 million KRW higher than the national average, showing the highest income level per household among the 17 cities and provinces.

Following Chungbuk were Jeonbuk (41.373 million KRW), Gyeonggi-do (38.746 million KRW), Jeonnam (38.245 million KRW), and Chungnam (37.47 million KRW) in order of high income per forest household. Additionally, seven metropolitan cities and Sejong City recorded an average annual forest household income of 46.835 million KRW.

Kang Dae-ik, Information and Statistics Officer at the Korea Forest Service, said, "Despite difficult economic conditions such as COVID-19, forest household income generally increased last year due to the efforts of forestry workers. The Korea Forest Service will continue to provide accurate statistical survey results to support forestry management activities and develop policies to increase forestry workers' income."

Meanwhile, the Korea Forest Service conducts the forest household economic survey annually to provide basic data for policies aimed at increasing forest household income.

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