Gangwon-do Supports Livestock Farms with 'Special Feed Purchase Funds'... 1.0% Low-Interest Loans

100% Loan, 1.0% Interest Rate, 2-Year Lump-Sum Repayment
Pig Farms: Up to 900 Million KRW for Farms Participating in 'Modon Iryeokje'
Korean Beef, Dairy, Poultry: Up to 600 Million KRW, Other Livestock: 90 Million KRW

Photo materials [Asia Economy DB]

[Asia Economy Reporter La Young-cheol] Gangwon Province announced on the 15th that it will provide an additional loan support of 16 billion KRW as a "Special Feed Purchase Fund" to ease the feed cost burden of livestock farms in the province.

The province plans to secure an additional 16 billion KRW from the special feed purchase fund reflected in the government supplementary budget and support livestock farms in the Gangwon area with a low interest rate of 1.0%.

This applies to registered livestock farms and corporations engaged in Korean beef cattle, dairy farming, pig farming, poultry farming, ducks, deer, horses, and other livestock, while unregistered livestock farms can apply after registration.

Pig farms and farms participating in the sow traceability system can receive up to 900 million KRW, Korean beef cattle, dairy, poultry, and duck farms up to 600 million KRW, and other livestock such as honeybees up to 90 million KRW.

The loan covers 100% of the amount, with an interest rate of 1.0%, and a two-year lump-sum repayment period. The funds are intended for new feed purchases and repayment of existing feed credit balances.

Livestock farmers wishing to receive feed purchase funds can apply through their eup/myeon/dong (township/neighborhood) and city/county offices.

After the city/county verifies livestock business registration, number of livestock, and existing loan details, selected and recommended farmers can apply for loans at local agricultural and livestock cooperatives.

Earlier, the province secured and allocated 11.4 billion KRW in the first round out of the 27.3 billion KRW demand surveyed for feed purchase funds in the first half of the year.

Additionally, 2.6 billion KRW of feed purchase funds were supported through the Gangwon Province Rural and Fisheries Promotion Fund (1.0%, 2-year grace period, 3-year equal installment repayment).

The Provincial Agricultural Policy Bureau stated, "We plan to conduct an additional demand survey for the special feed purchase fund and secure additional project funds to ensure many livestock farms benefit."

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