Sacheon-si, Agricultural and Fishery Rural Development Fund and Agricultural and Fishery Promotion Fund Loan Support

For Stability in Agricultural and Fishery Management

Up to 50 Million KRW for Individuals, 300 Million KRW for Corporations

Sacheon City in Gyeongnam Province is accepting applications for loan support from the 2023 second half Rural Development Fund and Rural Promotion Fund until the 31st, aimed at improving the management of farmers and fishermen and strengthening agricultural and fishery competitiveness.

The total loan support amount for farmers and fishermen in the second half of this year is 1.249 billion KRW, consisting of 570 million KRW from the Rural Development Fund, which is independently established by Sacheon City, and 679 million KRW from the Rural Promotion Fund conducted under the "Gyeongsangnam-do Rural Promotion Fund Establishment and Operation Ordinance."

The funds provided this time cover operating expenses such as the purchase of materials including seeds, pesticides, fertilizers, and feed; facility and equipment rental fees; distribution, processing, and sales; as well as facility funds for the expansion and improvement of facility equipment.

Sacheon Agricultural Technology Center.

Eligible applicants are farmers and fishermen residing in Sacheon City, as well as agricultural and fishery-related corporations and producer organizations with their main office in Sacheon City. The support limit is 50 million KRW for individuals and 300 million KRW for corporations.

The loan period for operating funds is 1 year grace period followed by 3 years of equal repayment, and for facility funds, it is 2 years grace period followed by 3 years of equal repayment. The loan interest rate is 1.0% per annum.

Farmers and fishermen in the area who wish to apply for loan support should visit their local eup, myeon, or dong administrative welfare center within the application period to complete and submit the loan application form and business plan.

The city plans to conduct an objective and reasonable internal review of this loan support and enable loans to be obtained through the NongHyup Sacheon Branch starting from September.

Kwon Sang-hyun, Director of the Agricultural Technology Center, said, "We hope that this low-interest loan support project can help stabilize management even a little for farms struggling with rising prices of agricultural materials."

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