Gyeonggi-do Provides Emergency Support of 14.2 Billion Won for Farmers' Tax-Free Fuel Purchases

Gyeonggi Province Governor Kim Dong-yeon is signing the first approved policy, the "Comprehensive Plan for Emergency Economic Response and Livelihood Stabilization."

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will urgently support 14.2 billion KRW for the purchase of tax-exempt fuel for agriculture to stabilize the management of farmers facing difficulties due to the rise in international oil prices.

This project is being promoted as one of the five emergency measures in the 'Comprehensive Plan for Emergency Economic Response and Livelihood Stabilization,' the first policy approved by Governor Kim Dong-yeon of Gyeonggi Province.

The province explained that due to the sharp rise in international oil prices, the average price of tax-exempt fuel for agriculture surged by 77% for gasoline from 841 KRW per liter in 2018 to 1,490 KRW at the end of June this year, and by 87% for diesel from 865 KRW to 1,617 KRW, respectively. With the farming season approaching in the second half of the year, it is expected that difficulties for farmers will intensify, so the province decided to urgently support part of the increase in oil prices.

The support targets are farmers and agricultural corporations who have received tax-exempt fuel cards from local agricultural cooperatives within the province. Those wishing to receive support can submit an application to the local agricultural cooperative that issued their tax-exempt fuel card from the 27th of this month until the 24th of next month.

The province will provide support ranging from a minimum of 100 KRW to a maximum of 200 KRW per liter for four types of tax-exempt fuels?gasoline, diesel, kerosene, and gas?purchased during the four months from August 1 to November 30.

Additionally, to reduce the burden of management costs on farmers due to the sharp rise in mineral fertilizer prices, the province will also partially support fertilizer purchase costs.

The province plans to support 80% of the fertilizer price increase using national and provincial funds and has already executed 11.2 billion KRW early. The remaining 13.7 billion KRW will also be promptly disbursed.

Han Tae-seong, head of the Eco-friendly Agriculture Division of the province, said, "Farmers are the first to be affected by rapid price increases and economic recession," adding, "We hope this emergency support measure will help farmers who are struggling with rising costs."

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