Gangwon-do invests 56.1 billion won in the livestock sector, including quality enhancement of the South Korean beef

Frozen Bone-In Beef

Meat

South Korea

Published Jan 31, 2023

Tridge summary

Gangwon-do announced on the 31st that it would invest 56.1 billion won in the livestock sector this year. The provincial government plans to promote 46 policies this year to stabilize farm management in response to the increase in feed costs and the decrease in livestock product prices. The province plans to invest 6.3 billion won in regulating the supply and demand of Korean beef, upgrading its quality, and establishing a livestock improvement system to respond to the decline in the price of production. In addition, it decided to invest 13.7 billion won in stably expanding the foundation for self-sufficiency of roughage. In addition, KRW 14.2 billion will be supported for the efficient treatment of livestock manure and livestock odor management, and KRW 4.6 billion will be invested in the establishment of a foundation for producing companion animal feed. In addition, KRW 8.2 billion will be provided for livestock accident insurance support, KRW 3.3 billion for popularization of horseback riding and protection of bees, and KRW 5.8 billion for revitalization of consumption of livestock products. Director Kim Jin-hwi of the Agricultural Policy Bureau said, "Due to the rise in feed costs, the decline in local prices, and the contraction in livestock consumption that have continued since last year, difficulties in the farming business environment continue."