Gochang-gun, Loan Financing for Livestock Farmers' Feed Purchases

[Asia Economy Honam Reporting Headquarters Reporter Kim Jae-gil] Gochang-gun, Jeonbuk announced on the 27th that it will secure an additional 1.8 billion KRW in the second half of the year to provide loans for feed purchase funds to stabilize the management of livestock farmers facing difficulties due to rising livestock production costs.

Earlier, the county had provided 3.2 billion KRW in loans for farm feed purchase funds in the first half of the year.

The support targets are livestock farmers and corporations participating in the livestock business registration and permit system, prioritizing small-scale farmers, farms with livestock product prices below production costs, and animal welfare-type livestock farms.

Support is provided according to priority, and the supported feed includes compound feed, concentrates, and supplementary feed (including TMR) registered under the Feed Control Act.

The support conditions are 100% loans with an annual interest rate of 1.8% and a lump-sum repayment after 2 years.

The support unit price per head is 1.36 million KRW for Hanwoo cattle, 2.6 million KRW for dairy, 300,000 KRW for swine, 12,000 KRW for poultry, and 18,000 KRW for ducks.

The support limit per farm is up to 600 million KRW for cattle, swine, poultry, and ducks, and up to 90 million KRW for other livestock.

However, government agency employees (excluding contract and irregular workers), contract farming farms that do not purchase feed directly, and farms penalized with fines or sanctions for violating livestock-related laws since January 2019 are excluded from support.

Feed funds are loaned on a first-come, first-served basis, and selected recipients can receive loans through local agricultural and livestock cooperatives.

A Gochang-gun official said, “We will do our best to support feed funds so that livestock farmers, who are struggling due to reduced consumption caused by the COVID-19 impact, can overcome this crisis.”

This content was produced with the assistance of AI translation services.