Yeonggwang-gun Lowers Interest Rate on Resident Welfare and Business Attraction Loans from 3% to 1%

[Asia Economy Honam Reporting Headquarters Reporter Jeon Seong] Yeonggwang-gun, Jeollanam-do (Governor Kim Jun-seong) announced on the 10th that it will reduce the interest rate on loan support projects for resident welfare and corporate attraction from the existing 3% to 1%.

This interest rate reduction was promoted as part of proactive administration to revitalize the local economy and was implemented on the 1st of this month through an ordinance amendment.

Applicants must have resided in the county for more than one year. Loan conditions are an annual interest rate of 1%, a 2-year grace period, and repayment in installments over 3 years. The loan limit is up to 10 million KRW for residents and up to 30 million KRW for companies.

Residents and companies wishing to apply for loans must submit their applications at the relevant eup/myeon office by November 30, and after credit screening at NH Nonghyup Bank Yeonggwang Branch, funds will be disbursed by December 31.

However, this year's project budget is 700 million KRW, allocated at 100 million KRW per month, and if there are many applicants, recipients will be selected based on priority.

For more details, information can be found on the county website, and consultations are available by phone or visit at the Nuclear Power Plant Management Team, Safety Management Division, County Office.

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