Gwangju City Supports Low-Interest Loans for Food Sanitation Businesses to Promote Local Economic Revitalization

Gwangju City, Gyeonggi Province (Mayor Bang Se-hwan) announced on the 22nd that it will provide low-interest loans at an annual rate of 1% for facility improvement funds and operating funds to food manufacturing and processing businesses and food service establishments affected by high inflation and interest rate hikes.

Gwangju City Hall exterior. Provided by Gyeonggi Gwangju City

This loan project is funded by the Gyeonggi-do Food Promotion Fund and supports production facility improvement funds for food manufacturing and processing businesses (up to 500 million KRW), facility improvement funds for food service establishments (up to 100 million KRW), restroom facility improvement funds for food service establishments (up to 20 million KRW), and operating funds for exemplary restaurants and hygiene-rated establishments (up to 30 million KRW). The program will continue until the funds are exhausted.

Business owners wishing to receive loans must first consult with the NH Nonghyup Bank Gwangju Branch to check loan eligibility and then submit the necessary documents to the Food Hygiene Division (Food Policy Team) to apply for the loan.

A Gwangju City official stated, "We hope this will help food hygiene businesses struggling due to the economic downturn," adding, "In particular, we hope that by improving aging facilities, hygienic and safe food can be provided to citizens, contributing to the promotion of public health."

Meanwhile, according to the Ministry of Food and Drug Safety's announcement, the emergency operating funds temporarily provided to general restaurants and others during COVID-19 ended in May 2024 due to the downgrade of the COVID-19 crisis level. This year, operating fund loans will only be supported for exemplary restaurants and hygiene-rated establishments.