Deputy Minister Lee Okwon: "Support for Culling Farms Expanded to 35 Billion Won in Emergency Management Stabilization Funds"

Emergency Management Stabilization Fund Expanded from 15 Billion to 35 Billion Won
Local Governments Requested to Provide On-Site Consulting for Vulnerable Farms

Lee Eok-won, First Vice Minister of the Ministry of Economy and Finance, is delivering a speech at the 26th Innovation Growth Strategy Review Meeting, COVID-19 Policy Review Meeting, Korean New Deal Review Task Force, and the 20th Price-Related Vice Ministers' Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 30th. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Jang Sehee] The government is accelerating compensation payments to farms that culled poultry following the outbreak of avian influenza (AI) to stabilize egg prices.

On the 10th, Lee Eokwon, First Vice Minister of the Ministry of Economy and Finance, and Park Youngbeom, Vice Minister of the Ministry of Agriculture, Food and Rural Affairs, visited Yangjitteul Farm, a layer hen farm located in Hwaseong-si, Gyeonggi Province, to inspect the restocking of layer hens and the egg supply situation.

Yangjitteul Farm completed preliminary measures for restocking, including restocking trials, farm inspections, and environmental evaluations, after culling due to AI in December last year. Layer hens were restocked sequentially, and recently, egg production from some of the layer hens has begun.

Vice Minister Lee said, "For the prices of eggs, a vital item for public livelihood stability, to stabilize quickly, it is important to promptly normalize the production base." He added, "To support the smooth restocking of layer hens for culled farms, the scale of emergency management stabilization funds has been expanded from 15 billion won to 35 billion won, and the support interest rate will be temporarily lowered to 0% until October, so please actively utilize this."

Vice Minister Park emphasized, "Although egg prices have recently entered a downward trend, restocking of culled farms is important for the rapid stabilization of egg prices and farm income," and urged, "Encourage local governments to promptly execute compensation payments for layer hen farms that culled poultry and carefully inspect so that farms can quickly complete restocking."

Meanwhile, local governments were requested to provide on-site consulting for vulnerable farms, continuously inspect facilities for heatwave response, and actively support necessary equipment and materials.

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