On January 14, 2016, the Korean Ministry of Agriculture, Food and Rural Affairs (MAFRA) announced its work plan for boosting rural economy and promoting agro-food export by transferring traditional agriculture into a 6th industry. Agriculture as a 6th industry will be promoted through linking agro-...
Subsidy to Retiring Farmers
Farmers who are going to retire can receive a subsidy from the government if they lend their farmlands to ICOF. There are three types of subsidies as of 2014.
(1) Subsidy to a community
This subsidy is paid to a community whose members lend their farmlands to...
Preferential tax treatment
In the case of income tax or inhabitant tax, the rates of taxes are determined depending on the amount of taxable income without several deductions. Farmers can deduce all the contributions for the FPS as well as those for the National Pension System. Not...
Operation of pension fund
The pension fund for farmers who are paying contributions or waiting for the inception of benefits after they turn 60 years old is operated in the “Insured Person Account.” In this account, the fund is invested not only to domestic bonds and stocks,...
INTRODUCTION
At the end of 2014 when many people bought and enjoyed sweet cakes made of raw milk for the Christmas, the shortage of dairy products, especially butter, became a hot topic in Japan. Consumers could not find out butter at any supermarkets, and have to wait its arriving for many days...
