NongHyup Provides Up to 10 Million KRW Special Financial Support for Areas Affected by Heavy Rainfall

Provision of Interest-Free Living Stabilization Funds

The National Agricultural Cooperative Federation (NACF) Mutual Finance announced on the 17th that, as part of the NACF-wide emergency measures to restore damage caused by heavy rainfalls nationwide and stabilize daily life, it will provide special financial support to affected cooperative members, farmers, and general customers in flood-affected areas.

Employees of NongHyup Economic Holdings' Production and Wholesale Headquarters visited a flower farm in Geumsan County, Chungnam, affected by heavy rain damage on the 16th and were seen cleaning flower pots.
[Image source=Yonhap News]

Cooperative members residing in 52 cities and counties including Anseong in Gyeonggi Province, and Okcheon and Cheongju in Chungbuk Province can receive interest-free emergency living stabilization funds up to a maximum of 10 million KRW per household until September 30.

Affected farmers can receive preferential interest rates on new loans, and for existing loans, they can apply for extensions or defer principal and interest installment payments. General customers can extend the loan period or defer principal or interest payments. For detailed information on eligibility and application methods, please contact the local agricultural cooperatives in the respective areas.

Yeoyounghyun, CEO of NACF Mutual Finance, said, "We extend our condolences to farmers and local residents who are struggling with the wounds left by the heavy rainfalls," adding, "We will support cooperative members and affected residents to restore their daily lives."