Yangsan-si, Agricultural Resident Income Support Fund Loan ... 1.8 Billion Won Scale

Up to 100 million KRW support, 1% annual interest rate, 2-year grace period, 3-year equal repayment

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Yangsan City, Gyeongnam Province announced on the 24th that it will provide loan support of 1.81 billion KRW in resident income support funds to farms and fisheries households and related organizations located within the city.

The support conditions are an annual interest rate of 1%, a 2-year grace period, and equal repayments over 3 years, with a maximum limit of up to 100 million KRW.

The eligible recipients are farmers and fishers who have their resident registration in Yangsan City and actually reside there, as well as agricultural cooperatives, agricultural corporations, and similar entities whose business sites are located in the city.

If the loan recipient moves to another city or county during the loan period or uses the funds for purposes other than intended, the support funds will be reclaimed.

Applications are accepted until March 5. Applications can be submitted at the administrative welfare centers of the applicant’s address or farmland location in the eup, myeon, or dong districts.

The final selection of recipients will be confirmed in March, and support is expected to begin from the end of the month.

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