(Purpose) Provide closure support fund on items deemed to cause difficulties in continuing the cultivation and breeding of the item following the conclusion of the FTA
(Selection Criteria) Items that are targets of the direct payment for damage and deemed appropriate to pay closure subsidy * High investment cost, difficulty in collecting investment cost during closure, ② 2 years or longer cultivation, breeding and farming period and difficulty in getting revenues in a short period of time, and ③ other necessity recognized.
(Payment Conditions) Demolishing and abolishing business site, land, standing tree or fishing boat, fishing gear and facilities that have been used for production prior to the enforcement of the agreement
Cases under the subparagraphs of Paragraph 1, Article 7 of the enforcement decree shall not be applicable. * ① Target item has not been produced for a period of 1 year or longer directly prior to the notification of items, ② Demolishing or abolishing for the purposes other than agricultural and fisheries industries such as construction or building roads, ③ Others recognized by the Minister where compensation under a different act has been confirmed.
(Application Requirements) Personnel satisfying all of the following requirements: ① Personnel who cultivates and breeds the item selected as the target item, ② Personnel registered as an agricultural business entity according to the 'Act on Fostering and Supporting Agricultural and Fisheries Business Entities', ③ Personnel who rightfully acquired the ownership rights to business site, land and standing tree under the application for closure support prior to the enforcement of the agreement, ④ Personnel with the sum of cultivation area of the target item for the closure subsidy of 1,000㎡ or greater.
Activation of Closure Support and Performance
Governmental Subsidy Rate
1 item: Korean beef (breeding cattle and cattle for fattening up)
4 items: cattle
5 items: cherry, chicken, outdoor and greenhouse grapes, chestnut
3 items: blueberry, outdoor and greenhouse grapes
Supports (KRW 100 million)
* There were no target items in 2017 due to the shortfalling of closure support targets to the requirements for activation.
Conduct the closure support project until 2020 according to Article 11 of the Special Act on Assistance to Farmers, Fishers, etc. Following the Conclusion of Free Trade Agreements
Reinforce follow-up management of closed farms, provide better prior information to farms that convert items and reinforce promotion