Gyeongju City Doubles Welfare Loan Limit for Residents Near Power Plants

Up to 20 Million Won Per Household
Low Interest Rates to Ease Residents' Financial Burden

On January 19, the city of Gyeongju announced that it will expand the scale of welfare loan support for residents living near power plants this year, in order to help alleviate the growing financial burden caused by prolonged high inflation and high interest rates.

The city revised the relevant ordinance on December 31 of last year, and starting in 2026, the maximum household loan limit for the resident welfare loan program will be increased from the previous 10 million won to up to 20 million won.

Gyeongju City Hall Exterior View

A total budget of 1.8 billion won has been allocated for this loan program, which will be available to residents living within a 5-kilometer radius of power plants in areas such as Gampo-eup, Munmu-daewang-myeon, and Yangnam-myeon, as well as to small business owners and entrepreneurs operating in these regions.

The loan interest rate will remain at a low 1.5% per annum to minimize the repayment burden on residents, and the repayment will be structured with a two-year grace period followed by equal installments over five years.

Households can apply for up to 20 million won in resident welfare loans, while loans for business attraction and small business support are available for up to 50 million won.

Applications will be accepted until November 30, and residents can apply at their local eup or myeon administrative welfare centers. Financial transactions will be handled by the Donggyeongju branch of iM Bank and the Agricultural Bank.

Park Youngsook, Director of Nuclear Policy at Gyeongju City, stated, "This expansion of the loan limit is an institutional improvement aimed at stabilizing the livelihoods of residents near power plants and easing the management burden on small businesses and companies. We will continue to strengthen the practical economic foundation of the region by responding to residents' needs."

Meanwhile, last year, Gyeongju City provided a total of 995 million won in financial support to 52 residents and businesses near power plants, continuing its efforts to create stable living conditions around nuclear power plants and revitalize the local economy through ongoing financial assistance.

For more information, please contact the administrative welfare centers of Gampo-eup, Munmu-daewang-myeon, Yangnam-myeon, or the Nuclear Policy Division at Gyeongju City Hall.