The South Korean pig self-support fund in 2024 will be 41.02 billion won

Published 2023년 11월 16일

Tridge summary

The Korean Pork Fund Representative Council has confirmed that the Korean pig self-support fund for next year will be 41,015,196,000 won. The fund will be comprised of contributions from farms, government support, and retained earnings, with a decrease in overall amount raised compared to this year. The budget for next year will primarily be invested in consumption promotion, supply and demand stability, and education and information provision, with an increase in the supply and demand stabilization budget.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[Livestock News Reporter Lee Il-ho] The amount of Korean pig self-support fund for next year was confirmed to be 41,015,196,000 won. On the 14th, the Korean Pork Fund Representative Council held its second meeting for 2023 at the Gyeryong Spatel in Yuseong, Daejeon and decided on the original budget and business plan for next year. Accordingly, the Korean Pork Self-Support Fund for next year will be comprised of 19.26 billion won in farm contributions, 5.35 billion won in government support, and 16.459196 billion won in retained earnings. The farm household contribution predicts the total number of pigs to be slaughtered at 18 million next year and is the same as this year (the initial approval standard). The same goes for government subsidies. However, retained earnings (pure carryover + supply and demand stabilization reserve carryover) decreased, and the overall amount raised decreased by 4.8%, or 2,075,622,000 won, compared to this year. Among the reserves from 2015 to 2023, ...

Source: Chuksannews