Gyeongnam Province Provides 500 Million KRW Loan Support for Food Hygiene Facility Improvement Funds

Loan Limit from 50 Million to 200 Million KRW, 2% Annual Interest, 2-Year Grace Period, 4-Year Equal Installment Repayment

Gyeongsangnam-do Provincial Government Building Exterior View

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do is providing a loan of 500 million KRW from the Food Promotion Fund to improve facilities at food hygiene business establishments.

The loan targets are businesses registered within the province that are designated or wish to apply for the Hazard Analysis and Critical Control Points (HACCP), food manufacturing and processing businesses, food hygiene inspection agencies, and food service establishments.

However, large businesses with annual sales exceeding 3 billion KRW, businesses that have received administrative sanctions for immoral or perverted operations within one year from the application date, and businesses that have already received loans and are in repayment are excluded.

The loan funds must be used for installing related facilities to comply with HACCP, improving business premises, and purchasing modernization machinery.

The loan limits are 200 million KRW for HACCP-applied businesses, 100 million KRW for food manufacturing and processing businesses, and 50 million KRW for cafes and general restaurants.

The support is provided at an annual interest rate of 2%, with a 2-year grace period followed by 4 years of equal installment repayments.

Business operators wishing to apply for the loan should submit their applications to the hygiene department of the relevant city or county office.