Mujugun Provides 597 Million Won Support Through Rural Income Support Fund

Resolving Farmers' Difficulties and Securing Agricultural Competitiveness Amid Prolonged COVID-19 Pandemic

[Muju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Muju County announced on the 23rd that it will provide a total of 597 million KRW in rural income support funds in the second half of this year.

This support is being promoted with the purpose of helping farmers who are experiencing economic difficulties due to the prolonged COVID-19 pandemic and securing agricultural competitiveness.

The fund is offered at a fixed interest rate of 1% (2-year grace period, 3-year equal installment repayment), with farmers eligible for up to 30 million KRW and agricultural corporations up to 50 million KRW.

The recipients are 21 individuals, including farmers and agricultural corporations residing within the jurisdiction.

An official from the Muju Agricultural Technology Center stated, “The rural income support fund is provided as a long-term, low-interest loan to farmers with ideas suited to regional characteristics and income improvement, aiming to establish a foundation for self-reliance and stabilize management. It will also serve as a solid foundation for discovering and fostering agricultural income sources, revitalizing eco-friendly agriculture and rural tourism sectors, thereby improving farmers' incomes and securing agricultural competitiveness.”

Muju County also provided a total of 684 million KRW in rural income support funds to 25 recipients in the first half of the year.

Muju=Honam Reporting Headquarters Reporter Kim Han-ho stonepeak@asiae.co.kr

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