Suwon City Provides 1% Annual Interest Support for Food Hygiene Facility Operation and Improvement Funds... Up to 500 Million KRW

Suwon City Hall

The city of Suwon in Gyeonggi Province will provide facility improvement and operating funds to food hygiene businesses at an annual interest rate of 1%.

On the 2nd, Suwon City announced that it is accepting applications for the "2024 Food Promotion Fund Facility Improvement and Operating Fund Loan Project."

The loan support scale includes ▲up to 500 million KRW for production facility improvement funds for food manufacturing and processing businesses (with a 20% self-payment) ▲up to 100 million KRW for facility improvement funds for food service establishments, up to 20 million KRW for restroom facility improvement funds ▲up to 30 million KRW operating funds for exemplary restaurants and hygiene grade designated food service establishments ▲up to 20 million KRW emergency operating funds for general restaurants, cafes, and bakeries affected by COVID-19. The project will continue until the budget is exhausted.

Facility improvement funds are to be repaid in equal installments over 3 years after a 2-year grace period, while restroom facility improvement and operating funds are to be repaid in equal installments over 2 years after a 1-year grace period. The loan interest rate is 1% per annum for all.

However, businesses that are temporarily closed or out of operation, entertainment and nightclubs, businesses that have already received COVID-19 emergency operating funds, businesses that have received administrative sanctions under Article 4 of the Act on the Punishment of Acts of Arranging Sexual Traffic within one year from the application date, businesses that have received administrative sanctions of suspension or higher for violating the Food Sanitation Act two or more times within one year, businesses that used the loan funds for purposes other than intended, and businesses that have not completed loan repayment are not eligible to apply.

Loan applications can be made after consulting with the NongHyup Central Association Suwon Branch or NongHyup Bank about loan eligibility. Food service establishments should apply to the Environmental Hygiene Division of their local district office, and food manufacturing and processing businesses should apply to the Hygiene Policy Division at Suwon City Hall.