Up to 100 Million KRW for Individuals and 500 Million KRW for Corporations Practicing Eco-friendly Agriculture
1% Annual Interest Rate Support... Applications Accepted Until the 24th
Jeonnam Province is extending the application period for the Eco-friendly Agriculture Promotion Fund to the 24th, accepting applications from local farmers or corporations. Photo by Jeonnam Province
Jeollanam-do announced on the 20th that it will extend the application period for the 2025 Eco-friendly Agriculture Promotion Fund, worth 7 billion KRW, by two weeks until the 24th, targeting farmers and corporations practicing eco-friendly agriculture.
The Eco-friendly Agriculture Promotion Fund provides low-interest loans at 1% to support funds needed for production, distribution, and the production of safe food, thereby reducing the management cost burden for farms and fostering sustainable eco-friendly agriculture to enhance competitiveness.
Eligible applicants for the loans include farmers, corporations, producer groups, and distribution companies that have resided in Jeollanam-do for more than one year and practice eco-friendly agriculture. The loan limit is 100 million KRW for individuals, 500 million KRW for corporations, and 1 billion KRW for distribution companies.
The support funds are divided into operating funds and facility funds. Operating funds support the purchase of raw materials such as eco-friendly rice and sweet potatoes, mushroom spawn, packaging design or packaging material production, and rental fees for sales venues.
Facility funds support expenses for building new nurseries, installing cold storage facilities, constructing new processing and distribution facilities, and new construction, expansion, or renovation of production facilities.
The repayment terms are two years of grace and three years of equal installment repayment for operating funds, and two years of grace and six years of equal installment repayment for facility funds. For fruit crops with delayed income generation, the terms are three years of grace and seven years of equal installment repayment.
Those wishing to apply for loans should submit an application form and business plan to the town or township office of their residence. Jeollanam-do plans to finalize the project beneficiaries and support funds by February after reviewing the documents and other evaluations.
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