The government will nurture 30,000 young farmers by 2027, the agriculture ministry said Wednesday, as part of a long-term plan to increase the proportion of farmers aged under 40 up to 10 percent of the total farmers by 2040, up from 1.2 percent as of 2020.
A monthly subsidy of 1.1 million won ($777) will be provided for three years to 4,000 young farmers seeking permanent settlement in rural areas next year, coupled with 300 million won for government-guaranteed land purchases. An agricultural development investment fund totaling 100 billion won will be established to help them with housing, enhanced living conditions and financing. Artificial intelligence-mediated smart farming will be fostered, as underpinned by hefty investment in research efforts to integrate advanced technologies into industrial efficiency and overall productivity.
These are part of measures unveiled by the Ministry of Agriculture, Food and Rural Affairs on the five-year plan for 2023 to 2027, mapped out to elevate the traditionally labor-intensive industry to a new high-tech sustainable growth driver. The policy assistance was announced shortly after President Yoon Suk-yeol visited smart farms in Sangju, North Gyeongsang Province.
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