Rice Price Rise Pushes Average Farm Income Back Above 10 Million KRW
Creatrip Team
a month ago
South Korea’s average farm income per household exceeded 10 million won in 2025, rising to about 10.17 million KRW (6.2% up year‑on‑year). The Rural Economics Institute attributes the recovery mainly to higher rice prices following reduced paddy acreage under the government’s strategic crop payment policy, lower input costs from falling crude oil prices, and expanded farm support. Total agricultural output value is estimated at 62.74 trillion KRW (up 3.2%), with crop and livestock sectors both recovering. Including non‑farm and transfer incomes, average household income reached 51.88 million KRW (up 2.5%). The institute forecasts continued income growth in 2026, projecting 10.74 million KRW for farm income, alongside rising grain consumption and slightly lower fruit and meat consumption. Agricultural food exports are expected to grow, narrowing the trade deficit.
