The Ministry of Agriculture, Food and Rural Affairs will provide 30.5 billion won (approximately $27 million) in disaster relief to over 15,000 farms affected by this summer's heat, drought, hail, and strong winds before the Chuseok holiday.
On September 20, the ministry announced that it finalized its disaster relief and financial support plan for farms impacted by the heat and drought in July and August, as well as the hail and strong winds on August 31, following a decision by the Agricultural Disaster Response Committee on September 18.
Due to the heat and drought, crops such as ginseng, sweet persimmons, pears, and green onions suffered damage across 5,887.8 hectares, including leaf wilting, sunburn, and cracking. On August 31, hail accompanied by strong winds caused damage to apple and other fruit crops across 296.4 hectares in the regions of Andong, Yecheon, and Uiseong in North Gyeongsang Province, resulting in fruit drop and damage.
The total disaster relief amount, based on damage assessments by local governments, is 30.493 billion won for 14,689 farms. Of this, 29.458 billion won is allocated for 14,101 farms affected by heat and drought, while 1.035 billion won is designated for 588 farms impacted by hail and strong winds.
To alleviate the financial burden on affected farmers and support a swift return to farming, the ministry plans to distribute the disaster relief funds in coordination with local governments before the Chuseok holiday.
In addition to the disaster relief funds, the ministry will implement loan repayment deferrals and interest reductions for agricultural policy funds. If the damage rate exceeds 30%, repayment will be deferred for one year, and if it exceeds 50%, the deferral will be for two years.
For farmers needing additional funds for operational stability, a disaster management loan at an interest rate of 1.8% will also be available.
Minister of Agriculture, Food and Rural Affairs Song Mi-ryung stated, "I hope that the disaster relief funds provided before the Chuseok holiday will help reduce the financial burden on farmers affected by the heat and hail and contribute to their livelihood stability. The ministry will continue to do its best to ensure that farmers affected by disasters can manage their operations more stably through disaster relief funds and other support measures."
* This article has been translated by AI.
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