This study empirically analyzed the impact of smart agriculture on farm performance, focusing on the first generation smart farms. The panel data from the Farm Economic Survey for five years (2018?2022) with representative samples was used. The Propensity Score Matching (PSM) was used to analyze the impact of smart agriculture technology on the agricultural income. The impact of introducing smart farming on production efficiency was analyzed using both Stochastic Frontier Analysis and Data Envelope Analysis. The results of the analysis showed that the agricultural income of farms that introduced smart agriculture was 26.7% higher on average than that of non-introduced farms, suggesting that the dissemination of smart farming technology is contributing to improving agricultural management performance. Therefore, it will be necessary to seek to increase agricultural income by expanding smart agriculture. In addition, the results of the production efficiency analysis showed that the production efficiency of farms that introduced smart agriculture was about 2∼8% higher than that of non-introduced farms, depending on the model, suggesting that the dissemination of smart agriculture materials and technologies can increase farm production efficiency.