Hwasun County Launches Substitute Industry Loan Support Program for Mining Area Promotion Districts

Loan Support Applications Accepted Until February 19

Hwasun County Office Building Exterior

Hwasun County in South Jeolla Province announced on the 27th that it will be accepting applications for the "2026 Substitute Industry Loan Support Program for Mining Area Promotion Districts" until February 19.

This program is open to companies engaged in manufacturing, mining (excluding coal), tourism and leisure, and cultural content businesses that have been newly established, expanded, or relocated within the mining area promotion districts. Notably, all agro-industrial complexes in the county are included in the mining area promotion districts, so both current and prospective resident companies are eligible to benefit from the loan support program.

The total support amount for this year is 15 billion won. For facility funds, the maximum loan is 3 billion won with a five-year grace period and five-year equal installment repayment. For operating funds, the maximum loan is 1 billion won with a two-year grace period and three-year equal installment repayment. The loan interest rate is a variable rate, adjusted quarterly.

Further details can be found on the Hwasun County Office website and the Korea Mine Reclamation Corporation website. Companies wishing to apply should prepare the required documents and submit them to the Industrial Complex Support Team of the Department of Local Economy at Hwasun County Office.

Park Yonghee, Head of the Department of Local Economy, said, "I hope this program will provide an opportunity for businesses to secure funds at low interest rates," and added, "We hope it will help local companies expand their businesses and stabilize their operations."