Gurye-gun Accepts Applications for Support Program for Purchasing Housing for Returning Farmers and Agricultural Startups

Agricultural Startup Loan for Returning Farmers Up to 300 Million KRW, Housing Purchase and Construction Loan Up to 75 Million KRW

Fixed Interest Rate at 2% per Year or Variable Rate, 5-Year Grace Period with 10-Year Equal Principal Repayment Plan

[Gurye=Asia Economy Honam Reporting Headquarters Reporter Yuk Mi-seok] The Gurye-gun, Jeollanam-do announced that it is recruiting applicants for the second half of 2022 support project for returning farmers' agricultural start-up and housing purchase funds until July 13.

The eligible applicants are household heads under the age of 65 as of 2022 (born after January 1, 1956) who have continuously lived for more than one year in non-agricultural and fishing village areas (dong) and have moved to Gurye-gun within 5 years, and non-agricultural residents living in rural areas (eup/myeon) who are not engaged in agriculture.

There is no age limit for housing purchase and new construction funds. Non-agricultural residents who have continuously lived in rural areas can only apply for returning farmers' agricultural start-up funds, excluding housing fund support.

Applicants for this project must complete more than 100 hours of education (agriculture, returning farming and rural migration, forestry, returning mountain village education) organized or commissioned by the Ministry of Agriculture, Food and Rural Affairs (including the Rural Development Administration), the Rural Development Administration, the Korea Forest Service, or local governments.

Time spent on cyber education, rural talent sharing, rural volunteer activities, and participation in rural manpower brokerage centers is recognized as education time up to a maximum of 40 hours within 50% of the total time.

Due to COVID-19, non-face-to-face education that can be conducted and managed in real time is recognized as 100% of participation time as education time, the same as group education.

The loan limit for the returning farmers' agricultural start-up and housing purchase fund support project is up to 300 million KRW per household for agricultural start-up fields (such as farming infrastructure, construction, purchase, and repair of food manufacturing and processing facilities), and up to 75 million KRW for housing purchase, new construction, extension, and remodeling fields (including land purchase and extension/remodeling of self-owned old farmhouses).

Applicants can choose between a fixed interest rate of 2% per annum or a variable interest rate, with a 5-year grace period and 10 years of equal principal repayment.

This project is aimed at supporting returning farmers and non-agricultural residents in rural areas who want to settle in Gurye through agriculture by providing support for agricultural start-up and housing space. It is a secondary interest subsidy project that supports low-interest loans by covering the difference between loan interest rates and low interest rates with government budget. The loan period is until December 31, 2022.

To apply, applicants must download the application form from the Gurye-gun Office website and the Gurye-gun Stay-type Agricultural Start-up Support Center website announcement board, and submit it in person to the Returning Farming and Rural Migration Team at the Agricultural Technology Center by July 13.

Afterwards, in July, a face-to-face in-depth interview evaluation will be conducted by the selection screening committee, and priority will be determined in order of high scores. The project recipients will be finalized within the allocation amount assigned by Jeollanam-do. The final loan amount will be determined based on the loan screening results.

Gurye-gun plans to support stable agricultural production activities and housing spaces for returning farmers through this project.

Gurye=Asia Economy Honam Reporting Headquarters Reporter Yuk Mi-seok hss79@asiae.co.kr

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