Gyeonggi-do Provides Up to 60 Billion KRW Special Financial Support to Climate Crisis Response Companies

Gyeonggi Province will provide a total of 60 billion KRW in special financial support to companies responding to the climate crisis, including climate tech.

On the 27th, Gyeonggi Province announced that it will launch the "Gyeonggi Province Small and Medium Enterprise Climate Crisis Response Special Financial Support" on the 28th of this month, which offers up to 800 million KRW in loans with 100% guarantee from the Gyeonggi Credit Guarantee Foundation for up to 8 years, along with an additional interest reduction of up to 3%p per year.

This special financial support does not charge any separate fees for early repayment.

Gyeonggi-do Small and Medium Enterprises Climate Crisis Response Special Financial Support Guide Poster

Gyeonggi Province classifies the support targets into "General Support" and "Special Support." General Support provides ▲10 billion KRW for solar power companies ▲30 billion KRW for energy efficiency companies ▲6 billion KRW for manufacturers of disposable product alternatives ▲6 billion KRW for climate tech companies. Companies eligible for General Support can receive up to 500 million KRW, with a repayment period of 5 years and an interest rate of 2% supported by Gyeonggi Province.

Special Support targets companies participating in the Gyeonggi RE100 Industrial Complex (which installs solar power facilities on factory roofs or idle land within the industrial complex and supplies the generated electricity to factories within the complex and external companies) and companies planning to newly install high-efficiency energy equipment, among others committed to practicing RE100. These companies can receive up to 800 million KRW, with a repayment period of 8 years and an interest rate of 3% under expanded conditions.

Cha Seong-su, Director of the Climate Environment and Energy Bureau of Gyeonggi Province, said, "This special financial support product will serve as an opportunity for companies to actively face the climate crisis," adding, "Gyeonggi Province will provide thorough support so that the climate economy is revitalized and climate crisis response can become a new engine of economic growth."