• Requirements: Ages 65 and over, 5 years or more farming experience
• Payment Options: Permanent option (monthly payment as long as the recipient lives), Fixed-term option (monthly payment as long as the fixed-term: 5-year, 10-year, or 15-year), Two-phase option (higher monthly payments for the initial 10 years), Lump-sum withdrawal option (possibility to withdraw up to 30% of the loan limit), Management transfer option (receive up to approximately 27% higher monthly payments than the general option under the agreement to dispose the collateral land to the institution after the maturity)
• Monthly Payment: Upper limit KRW 3 million/month
  * The monthly payment is determined based on the farming land price, age at subscription and payment option.
• Security Valuation Rate: 100% of official appraised value of individual land or 80% of appraised value
• Cancellation of Pension: Possibility to cancel agreement after repayment of debt (total monthly payment + 2.0% interest rate + 0.5% cost of risk) at any time
  * In case of failure to repay the debt, execute provisional auction of the collateral farmland → Collect the pension debt from disposition of the collateral farmland and return remaining amount to the subscriber (or the inheritor)
• Others: For utilizing the collateral farmland* or in case of death of the subscriber, pension may be inherited to the spouse
  * Possibility to generate additional income outside the pension through cultivation or leasing
• Project Process

* Grounds for Support: Articles 10 and 24-5 of Korea Rural Community Corporation and Farmland Management Fund Act

* New subscribers increased 22.7% from previous year (963 → 1,182 cases)

☆ Mid- to long-term project goal (reflecting framework plan of low birth & aging society): 20,000 cases (by 2020) → 50,000 cases (by 2025)

• Subscribers until 2017

* Numbers in parentheses represent new subscriptions in 2017, KRW 182 million (219 appraised value, 165 official appraised value), average age of subscribers 73

• Subscribers until May 2018

* Subscribers until May 2018, 182 million (191 appraised value, 176 official appraised value), average age of subscribers 74
From 1,182 new subscribers, 471 (including 2 mixed cases) are based on appraised values and 711 are based on official appraised values

• YoY Subscriber Status

• Yearly Subscription Statistics