South Jeolla Province to Provide 175.2 Billion KRW in Feed Purchase Loans for Livestock Farmers

Low-Interest Loans Expected to Stabilize Management
for New Feed Purchases and Repayment of Outstanding Balances

On July 2, South Jeolla Province announced that it will provide 175.2 billion KRW in feed purchase loans in 2025 to support the management stability of livestock farmers who are struggling due to rising production costs and shrinking consumption.

The feed purchase loan program provides annual loans (with an interest rate of 1.8% and a lump-sum repayment after a two-year grace period) for the purchase of new feed and repayment of existing credit balances. Eligible recipients are livestock farmers or corporations with livestock business permits or registrations.

In the first half of this year, 125.2 billion KRW was provided, and 50 billion KRW will be provided in the second half of the year.

In particular, farms participating in government policies such as the cow fattening support program, sow traceability program, and those affected by preventive culling due to foot-and-mouth disease or avian influenza will be eligible for expanded support of up to 900 million KRW. Selected recipients must complete their loan applications at local agricultural or livestock cooperatives by September 18.

Kim Sungjin, Director of Livestock Policy at South Jeolla Province, stated, "We plan to continue expanding low-interest loan support to ensure the management stability of livestock farmers who are struggling due to rising feed prices and increased production costs," and urged, "Since an additional demand survey is being conducted until the 8th, we encourage all eligible farmers who have not yet applied to do so without omission."

South Jeolla Province has been providing feed purchase loans every year to support the management stability of livestock farmers, with 137.1 billion KRW in 2023 and 148 billion KRW in 2024.

Additionally, South Jeolla Province is the only region in the country to allocate a separate budget to subsidize 1% of loan interest for farms that have completed feed purchase loans since 2023 (2.4 billion KRW in 2023 and 1.4 billion KRW in 2024). For 2025, 1.5 billion KRW has been secured for this purpose, demonstrating active efforts to support the management stability of livestock farmers facing difficulties due to rising feed prices.

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