SoKor’s North Jeolla province adds USD 23M for feed loan support

• ✅ Full financing (no self-payment required)
• ✅ Annual interest rate of 1.8%
• ✅ Lump-sum repayment after two years.

Loan limits vary by livestock type such as cattle, pigs, chickens), with general farms eligible for up to USD 400,000.

Higher limits for cooperating farms

Farms engaged in cow fattening projects, sow traceability programs, or affected by preventive culling due to FMD, AI, or ASF can borrow up to USD 600,000. The higher ceiling recognizes their cooperation with government policy.

Funds may be used not only for feed purchases but also to refinance past feed debts taken at high interest rates. Switching to loans at 1.8% is expected to ease cash flow pressures.

Additional support planned for 2026

For 2026, the province will provide extra interest support of 0.4% to 1.8%, depending on livestock type and breeding scale. It also plans to coordinate with the Agricultural and Fisheries Development Fund to further reduce the interest burden actually borne by farmers.

Farmers seeking support must apply at the administrative welfare center in their jurisdiction (eup, myeon, or dong). Once approved, they must complete loan procedures through agricultural or livestock cooperatives by July 29.

Min Sun-sik, Director of the Agricultural Life Livestock Industry Bureau of North Jeolla Province, stated, “With both domestic and international economic instability driving up feed prices, livestock farmers are facing increasing financial pressure. By providing low-interest feed funds, we aim to help stabilize farm operations and build a sustainable foundation for the livestock industry.”