President Lee Calls for Higher Agricultural Subsidies to Protect Food Security

According to Yonhap, President Lee Jae Myung called for raising agricultural subsidies in South Korea, saying the move is needed to protect food security and support farmers' livelihoods. In a post on X on Friday, Lee described agriculture as a “very important strategic industry” and was responding to Agriculture Minister Song Mi-ryung’s post that South Korea’s farm subsidies are smaller than those in the European Union and Japan. Song said South Korea’s subsidies totaled 5.19 million won ($3,490) per farming household last year, compared with 25.8 million won in the EU in 2023 and 9.67 million won in Japan in 2024. Lee said financial resources for higher subsidies are becoming available as revenues from the special rural development tax have surged on the back of the booming stock market. He said South Korea must support areas that are hurt by trade liberalization to avoid real losses while protecting food security and rural communities.