National Assembly Speaker Woo Won-shik (R) poses for a photo with Kim Ho-cheol (L), new head of the Board of Audit and Inspection, during their meeting at the parliamentary building in Seoul, South Korea, 07 January 2026. Photo by YONHAP / EPA
June 10 (Asia Today) -- South Korea's state audit agency said Wednesday that government-backed agricultural policy funds intended to help struggling companies recover have instead increased their dependence on public financing.
The Board of Audit and Inspection released an audit report on the operation of major agricultural policy fund programs.
The audit was conducted after criticism that the financial soundness of the funds has worsened every year while repeated support for marginal companies has produced limited results.
Agricultural policy funds refer to government-backed loans and subsidies provided to farmers and agricultural businesses to improve competitiveness and support young farmers.
