Gwangju City Implements Food Promotion Fund Loan Program... Up to 300 Million Won

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City announced on the 12th that it will implement the ‘2021 Gwangju City Food Promotion Fund Loan Project.’

The Food Promotion Fund was established in 1987 to secure the necessary resources for projects aimed at improving food hygiene and citizens' nutritional levels. The fund is used for loans to facilities for facility improvement businesses and model businesses, food culture improvement projects, food poisoning prevention projects, and food industry promotion projects.

This loan project is divided into ▲sanitation facility improvement funds ▲model business fostering funds ▲food waste disposal facility improvement funds, targeting food manufacturing and processing businesses and food service establishments registered and reported within the jurisdiction.

The loan scale is up to 300 million KRW for businesses applying the Hazard Analysis and Critical Control Points (HACCP) standards, 70 million KRW for food manufacturing and processing businesses, and 50 million KRW for food service establishments (10 million KRW if improving restrooms), and may close once the budget is exhausted.

The loan period for funds under 50 million KRW is a 1-year grace period followed by 3 years of equal installment repayments, and for funds over 50 million KRW, a 1-year grace period followed by 5 years of equal installment repayments. The loan interest rates are ▲2% per annum for sanitation facility improvement funds ▲1.0% per annum for model business fostering funds, restroom improvements, and food waste disposal facility improvement funds.

Applicants wishing to receive loans can submit applications by the end of the year at the Food Promotion Fund department of the relevant autonomous district office, and after confirming eligibility at Gwangju Bank or Kookmin Bank, submit their applications.

Park Hyang, Director of the Welfare and Health Bureau of the city, said, “The Food Promotion Fund Loan Project is implemented to improve the facilities of food hygiene businesses to create a hygienic and safe food hygiene environment. Although the project runs until the end of the year, many businesses are struggling due to COVID-19, so it may close early. We urge applicants to apply promptly.”

This content was produced with the assistance of AI translation services.