Hwasun-gun Accepting Applications for 'Tourism Promotion Fund Loan Support' Until the 11th of Next Month

Published 17 Jan.2022 13:03(KST)

[Hwasun=Asia Economy Honam Reporting Headquarters Reporter Kim Ji-woon] Jeollanam-do Hwasun-gun announced on the 17th that it is accepting applications for the ‘2022 1st Jeollanam-do Tourism Promotion Fund Loan Support Project’ targeting tourism businesses until the 11th of next month.

The first Jeonnam Tourism Promotion Fund loan support this year is divided into two categories according to the purpose of use: facility funds and operating funds.

Facility funds support loans for the construction, extension, and renovation of tourism facilities, while operating funds support loans for business operation purposes.

The eligible industries for facility funds include ▲tourism accommodation business ▲tourism pension business ▲Korea Tourism Quality Certification accommodation businesses ▲campground business ▲tourist railway business ▲hanok experience business ▲parking facilities within tourist attractions, tourist complexes, and tourist special zones ▲and tourism support service businesses (special classification of tourism industry) in the categories of entertainment and tourism experience facilities.

For operating funds, eligible industries include ▲campground business ▲hanok experience business ▲travel agency business ▲tourism cruise ship business ▲and tourism support service businesses in the categories of entertainment and tourism experience facilities.

The loan interest rate is 0.5% (3-month variable rate), and the repayment conditions for facility funds are ▲4 years grace period with 7 years equal repayment for new construction ▲3 years grace period with 4 years equal repayment for extension ▲2 years grace period with 3 years equal repayment for renovation.

For operating funds, the repayment condition is a 2-year grace period with 3 years equal repayment.

Applications can be submitted by visiting the head office or branch of the loan handling banks (Gwangju, KDB, NongHyup, Hana, Korea City, Woori Bank) for loan consultation, then submitting the application documents to the Tourism Planning Team of the Tourism Promotion Division at the county office.

Loan support recipients will be announced on March 18 after on-site verification and review by the fund review committee.

A county official said, “We hope that the Jeonnam Tourism Promotion Fund loan support will help reduce the investment burden for facility improvements of tourism businesses and minimize management difficulties,” adding, “We will do our best to support tourism businesses struggling due to COVID-19.”

For more details, please refer to the announcement of the 1st Jeonnam Tourism Promotion Fund Loan Support Project posted on the Hwasun-gun website’s notice board.