Inje County Offers 700 Million Won in Agricultural Development Fund Loans at Ultra-Low 1% Interest

Inje County in Gangwon Province will launch a full-scale loan support program for the Agricultural Development Fund for the first half of 2026 to stabilize farm management and strengthen agricultural competitiveness, providing a total of 700 million won in long-term, low-interest loans.

Exterior view of Inje County Office.

This loan support follows Inje County’s enactment and promulgation on February 12 of the “Ordinance on the Management, Establishment, and Support of the Inje County Agricultural Development Fund,” which has now gone into full implementation.

The need to overhaul the system had been raised as the validity period of the existing Agricultural Development Fund-related制度 was set to expire in 2025, and there had been concerns that this could lead to a gap in support for farming households.

In response, the county revised the relevant ordinance to minimize any制度 gap and reduce uncertainty in the agricultural field, and, as the Inje County Council swiftly reviewed and passed the ordinance bill during an extraordinary session, it established an institutional foundation to ensure that support for farming households is not interrupted.

With recent increases in agricultural input prices and a heavier burden of operating costs, the county expects that operation of this fund will help stabilize farm management.

Eligible loan recipients are farmers and fishers, as well as agricultural and fisheries corporations, who, as of the application date, are engaged in agriculture, fisheries, the food industry, or rural tourism and leisure businesses in Inje County.

The support areas cover the entire agricultural sector reflecting local characteristics, including projects related to the production, processing, manufacturing, distribution, and export of agricultural products; rural tourism and leisure businesses; and operating funds for agricultural and fisheries facilities.

The loan terms are set at an annual interest rate of 1.0%, with repayment in equal installments within five years after a two-year grace period.

The loan limit ranges from a minimum of 10 million won to a maximum of 200 million won for individuals, and from 50 million won to a maximum of 500 million won for corporations and organizations.

Applications will be accepted from February 13 to March 6, and applicants must visit the eup or myeon community service center with jurisdiction over the location of their business site to apply.

After on-site inspections and reviews by the eup and myeon offices, preliminary candidates will be selected. The final beneficiaries will then be confirmed after checking loan eligibility with financial institutions and deliberation by the Agricultural Development Fund Management Deliberation Committee, and the loan execution period will run from April 6 to November 30.

Inje County plans to use this ordinance enactment and fund operation as an opportunity not only to provide short-term financial support, but also to continue operating the制度 in a way that maintains the agricultural base in a stable manner and supports the sustainable growth of local agriculture.