58 Farmers and 2 Agricultural Corporations Selected as Loan Recipients
Muju County in North Jeolla Province will provide Rural Income Support Funds in 2025.
According to the county on the 31st, the Rural Income Support Fund project was launched to stabilize agricultural management. It offers long-term, low-interest loans to farmers and agricultural corporations with income-boosting ideas tailored to the characteristics of the region.
The county plans to provide a total of 1.7047 billion KRW in loans at a fixed interest rate of 1% (with a two-year grace period and three-year equal installment repayment). On the 25th, 58 farmers and 2 agricultural corporations were selected as loan recipients. From the 1st of next month, the county will verify the credit status and collateral capacity of the recipients through the Muju branch of NH Nonghyup Bank before providing support.
Yoon Sujin, Team Leader of Agricultural Policy Planning at the Agricultural Technology Center, said, "We hope that this project will give momentum to farmers facing management difficulties," and added, "We expect that it will help strengthen the competitiveness needed to survive in the face of aging, declining agricultural population, and climate change, making sustainable agriculture in Muju possible."
Meanwhile, the county plans to focus on strengthening the capabilities and welfare of farmers this year, aiming to stabilize farm management by timely introduction of domestic and foreign labor, foster young farmers, improve quality of life through expanded welfare for farmers, and boost vitality in the agricultural sector.
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