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Income of S. Korea's Farming Households Grows 6.5% Last Year

Written: 2016-06-20 18:08:47Updated: 2016-06-20 19:00:35

Income of S. Korea's Farming Households Grows 6.5% Last Year

The income of South Korea’s farming households increased last year thanks to a rise in state subsidies and overall farming income.

According to the Korea Rural Economic Institute’s analysis of 2015 data from Statistics Korea, the average income of farming households came to 37-point-two million won last year, up six-and-a-half percent from the previous year. The figure includes farming income and state subsidies.

Farm subsidies, such as direct payments, marked an on-year increase of 15-point-nine percent, boosting the overall rise in the income of farming households.

Farming income increased by nine-point-three percent to eleven-point-two million won last year. 

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