Controversy over Farmers’ Burden as Farmland Bank Consignment Expands

The government has proposed entrusting the Korea Rural Community Corporation’s Farmland Bank with the task of clearing up illegal leased farmland, but concerns are being raised on the ground that fees and administrative costs could increase. Farmers point out that landowners are reluctant to enter into official lease agreements in order to receive capital gains tax benefits, and that if the matter is handled by the Farmland Bank, an additional 5% fee on the annual rent and document processing costs may be incurred. In particular, there are also concerns that work may be delayed because the number of staff in charge of the Farmland Bank is insufficient nationwide. Meanwhile, as farmland prices have fallen and anxiety has grown after the nationwide inspection, applications for the farmland pension have increased sharply this year. The number of applications by August this year had already exceeded last year’s annual total, and with a significant number of people still waiting, the need to expand the budget is also being raised.