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Gyeongju, South Korea is experiencing a significant increase in enrollment in its agricultural policy insurance programs, as farmers seek greater financial security against the growing risks posed by climate change and workplace accidents. The surge in coverage for crops, farm machinery, and farmers themselves underscores a broader trend of proactive risk management within the nation’s agricultural sector.
According to data released by the Gyeongju city government on February 18, 2026, total enrollment across the three main agricultural insurance types – crop disaster insurance, farmer safety insurance, and farm machinery comprehensive insurance – reached 15,184 policies in 2025. This represents an 8.6% increase compared to the 14,326 policies held in 2024, signaling a heightened awareness of potential vulnerabilities among local farmers. The rise in insurance adoption comes as South Korea grapples with increasingly frequent extreme weather events and concerns over safety in physically demanding agricultural work.
Farm Machinery Insurance Leads Growth
The most substantial increase was observed in farm machinery comprehensive insurance, with a 17.8% jump to 1,306 policies. This suggests a growing investment in agricultural technology and a corresponding need to protect those assets. Farmer safety insurance saw a 5% increase, with 12,071 farmers enrolled, while crop disaster insurance experienced a more modest 3% rise, covering 3,607 policies. These figures demonstrate broad-based growth across all three insurance categories, indicating a comprehensive approach to risk mitigation.
The Gyeongju city government attributes the increased enrollment to proactive promotional efforts and substantial financial support. Last year, the city invested a total of 8.844 billion Korean won (approximately $6.7 million USD as of February 18, 2026 – XE.com) in the agricultural policy insurance programs, including national funding. This support allows for coverage of up to 90% of the insurance premiums for crop disaster insurance, particularly for key crops like apples and rice, encompassing 73 different varieties. An additional 5% city funding further reduces the financial burden on farmers, making insurance more accessible.
Government Support Drives Accessibility
Insurance for farmer safety and farm machinery also benefits from 70% premium subsidies, helping farmers effectively prepare for potential accidents during agricultural operations. This financial assistance is a key factor in lowering the barriers to entry for farmers seeking to protect their livelihoods. The city’s commitment to reducing farmer out-of-pocket expenses is seen as a critical component of the program’s success.
The trend in Gyeongju reflects a broader national effort to bolster agricultural resilience. According to a report by the Kyongbuk Ilbo, the agricultural policy insurance programs are playing a vital role in providing a safety net for farmers in the region (Kyongbuk Ilbo). The increased insurance coverage is expected to contribute to greater stability within the agricultural sector, allowing farmers to continue producing food even in the face of unforeseen challenges.
Gyeongju Mayor Ju Nak-young emphasized the importance of agricultural policy insurance as a fundamental safety net against natural disasters and work-related accidents. He stated the city will continue to expand promotional efforts and financial support to ensure more farmers can benefit from these programs. The city is also streamlining the process for handling any surplus funds and insurance company reimbursements to ensure transparency and efficient administration.
Looking ahead, the Gyeongju city government will continue to monitor enrollment trends and adapt its insurance programs to meet the evolving needs of the agricultural community. The focus will remain on providing affordable and comprehensive coverage to protect farmers from the increasing risks associated with climate change and agricultural work. Further analysis of the program’s impact on farm income and resilience is planned for later this year.
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