GANGWON-DO < invest Korea

According to Yonhap News,

(CHUNCHEON = Yonhap News) Gangwon-do announced on January 13 that five cities and counties including Donghae-si were selected as the final choice to carry out the agricultural machine lease business project.

The province will provide KRW 5 billion to five cities and counties including Donghae-si, Hongcheon-gun, Hoengseong-gun, Cheorwon-gun, Inje-gun.

The agricultural machine lease business project aims to provide expensive machines to farm households at a lower price. The project was introduced in 2004.

Twenty-seven lease offices are currently operating in 16 cities and counties.

The province plans to add five more offices and expand the number of offices to 40 by 2016 in a bid to provide convenience to farm households.

Use of the lease rose from 18 percent in 2010 to 50 percent in 2013, and the province plans to increase the rate to 60 percent by 2015 and 70 percent by 2020.

Gangwon will also support material costs and operating costs to extend the useful lives of the machines and vitalize the operation of the lease offices. The province plans a subsidy of KRW 480 million to 16 cities and counties, with KRW 30 million for each city and county.

limbo@yna.co.kr

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Source Text

Source: Yonhap News (Jan. 13, 2014)

** This article was translated from the Korean.