South Korea: Korea's Low Carbon Green Growth Policy and Transition to Low Protein Feed
The Republic of Korea (ROK) has joined international commitments to reach carbon neutrality by 2050 and passed a Carbon Neutrality Act in 2021 to promote green growth. Although the agricultural industry will be relatively less impacted than some other sectors (including energy), agricultural producers will need to make some adjustments. Starting in July 1, 2022, the Korean livestock feed industry will transition to a ‘low protein feed formula’ to comply with new government carbon reduction requirements. As a result, consumption of protein ingredients in compound feed production will decline. Soybean meal will likely see the largest impact from the new formula, with up to a 70,000 metric ton reduction in swine and poultry feed.