Gyeonggi-do Provides Emergency Funding of 10 Billion KRW to Prevent Fruit Tree Frost Damage and Stabilize Fruit Prices

Gyeonggi Province will provide 10 billion won in policy funds to local farms to prevent the recurrence of cold damage to fruit orchards and curb the soaring fruit prices.

On the 26th, Gyeonggi Province announced that it will offer low-interest loans at an annual rate of 1%, up to 200 million won per farm, from the Agricultural and Rural Development Fund totaling 10 billion won this year. This support targets fruit and vegetable farms implementing cold damage prevention facilities such as wind fans and fine sprinklers, or modernizing production facilities.

This support comes in response to last year's spring abnormal high temperatures that accelerated blooming, followed by a sudden temperature drop causing cold damage, and reduced sunlight leading to poor growth of greenhouse crops and decreased production.

Gyeonggi Provincial Government

The decrease in fruit production has led to a rise in fruit prices. According to the consumer price index released by Statistics Korea in February, fruit prices increased by 40.6% compared to the same month last year. By item, apples rose 71.1%, pears 61.2%, and tomatoes 56.3%.

In addition to financial support, Gyeonggi Province will strengthen on-site guidance for cold damage prevention technologies and promote events such as local food agricultural product promotions to stabilize agricultural product prices.

Gong Jeong-sik, Director of the Gyeonggi Province Agriculture, Fisheries and Life Sciences Bureau, stated, "We are doing our best to secure national funds for projects such as the modernization of fruit production facilities to actively respond to production declines caused by climate change," adding, "We will also establish a mid- to long-term development plan for Gyeonggi Province's fruit industry following the government's fruit industry policy announcement."

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