Gangnam-gu Provides 600 Million Won Loan Support from Food Promotion Fund for Restaurant Facility Improvements

Loan Interest Rate for Facility Improvement Funds to Enhance Hygiene Levels in Kitchens and Restrooms of Food Service and Manufacturing Businesses Set at 1%

Gangnam-gu (District Mayor Jo Seong-myeong) is accepting year-round applications for a 600 million KRW food promotion fund loan for restaurants undergoing facility improvement construction to enhance hygiene levels, until funds are exhausted.

This loan support aims to alleviate the economic burden on food hygiene businesses struggling with high prices and high interest rates, and to improve hygiene standards. It targets a total of 17,252 food service and manufacturing establishments registered in the area, including general restaurants, cafes, and bakeries.

The loan types are divided into ▲Facility Improvement Fund and ▲Model Restaurant Development Fund, both applying a low interest rate of 1%.

The ‘Facility Improvement Fund’ provides loans covering up to 80% of the total costs required for repairs, renovations, and installation of necessary equipment at business sites. ▲Food service establishments such as general restaurants, cafes, and bakeries can borrow up to 100 million KRW (2-year grace period, 3-year equal installment repayment) ▲Restroom improvements for food service establishments up to 20 million KRW (2-year grace period, 3-year equal installment repayment) ▲Excellent children’s preferred food sales establishments up to 30 million KRW (3-year grace period, 5-year equal installment repayment) ▲Food manufacturing establishments up to 600 million KRW (3-year grace period, 5-year equal installment repayment). However, entertainment bars and nightclubs excluded from the Facility Improvement Fund can apply for loans only for restroom improvement funds.

The ‘Model Restaurant Development Fund’ supports costs for repairs, renovations, and installation of necessary equipment at business sites designated as model restaurants. The maximum loan amount is 50 million KRW with a 2-year grace period and 3-year equal installment repayment.

Business operators wishing to apply for the loan should first visit the Shinhan Bank Gangnam-gu Office branch for consultation on loan eligibility, then submit their application at the Gangnam-gu Public Health Center’s Hygiene Division.

Detailed information including required documents can be found in the notices section on the district office and public health center websites, or by contacting the Food Hygiene Team in the Hygiene Division.

Jo Seong-myeong, Mayor of Gangnam-gu, stated, “We hope this loan support will help small restaurants striving to provide safe food. We will work to ensure that restaurants in the district, frequented by single-person households, office workers, and tourists, maintain a clean and hygienic environment.”