Gyeonggi Marine Fisheries Resources Institute Supports 300 Million KRW for Compound Feed Purchase Funds for Aquaculture Farms
Gyeonggi Province will provide up to 300 million KRW in financial support for the purchase of compound feed to aquaculture farms.
On the 11th, the Gyeonggi Marine and Fisheries Resources Research Institute announced that it is accepting applications for the compound feed purchase fund support project until the 31st of this month to alleviate the financial burden on aquaculture farms caused by rising feed prices.
The compound feed purchase fund support project offers low-interest loans at an annual rate of 1% of up to 300 million KRW to aquaculture business entities using compound feed (fish, shrimp, turtle, shellfish farms, etc.). The support period is 2 years for shellfish and 3 years for fish.
Eligible applicants are aquaculture business entities that have obtained licenses or permits for aquaculture or have completed registration and use compound feed. Those involved in fraudulent activities in the past three years related to the project will be excluded from the selection process.
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Kim Bong-hyun, Director of the Gyeonggi Marine and Fisheries Resources Research Institute, emphasized, "We will continue to promote the project to provide practical assistance to local fish farms struggling with rising feed prices."
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