Chungnam to Provide 76.4 Billion Won in Feed Purchase Loans for Livestock Farms... Up to 900 Million Won per Farm

Loans Available at Local Nonghyup and Livestock Cooperatives Until September 18
Benefit from a Low Annual Interest Rate of 1.8%

Chungnam Provincial Government Office View

The Chungnam Provincial Government announced on June 29 that it will provide a total of 76.4 billion won in feed purchase loan support to livestock farms in the second half of this year, aiming to ease their management burden.

The support is available to farms and corporations that have completed livestock business permits or registrations. The funds can be used for the purchase of new feed or for the repayment of existing feed-related debts.

The loan conditions include full financing (100%), a low annual interest rate of 1.8%, and a lump-sum repayment after a two-year grace period.

The maximum support amount is up to 600 million won for beef cattle, dairy, swine, and layer farms. For farms affected by foot-and-mouth disease, avian influenza (AI), or African swine fever (ASF), as well as those participating in the sow traceability system or cow fattening support projects, the limit is up to 900 million won.

Interested farmers can apply to their respective city or county offices, obtain a "Feed Purchase Fund Selection and Recommendation Letter" issued by the local government, and receive loans at local branches of Nonghyup or the Livestock Cooperative by September 18.

An official from the provincial government stated, "With feed costs continuing to be a burden, we hope that this loan support in the second half of the year will provide tangible assistance for the management stability of livestock farms and the sustainable development of the livestock industry in Chungnam."