Shinan-gun Launches Nation's First 'Sunlight Children Scholarship Savings Account'

Raising Up to 40 Million KRW Lump Sum... Renewable Energy Association Signs Business Agreement with Local Agricultural Cooperatives

Local Agricultural Cooperatives 4.5% + Renewable Energy Association 3% Total 7.5% Interest Support

On the 5th, Sinan-gun, Jeollanam-do (Governor Park Woo-ryang) signed a business agreement for the ‘Sunlight Children Scholarship Savings’ aimed at improving the welfare and academic support of children, with the participation of the Renewable Energy Cooperative Federation and heads of seven local agricultural cooperatives.

On the 5th, (center) Park Woo-ryang, the mayor of Shinan County, the president of the New Renewable Energy Association, and the heads of seven regional agricultural cooperatives are taking a commemorative photo after signing a business agreement for the 'Shinan Sunlight Children's Scholarship Savings.' [Photo by Shinan County]

According to the county on the 8th, the ‘Sunlight Children Scholarship Savings’ is designed for children under 18 in Sinan-gun, with the goal of accumulating up to 40 million KRW in lump sum savings. It will be launched in April at the Buk Sinan, Aphae, Imja, Bigeum, Dochon, Nam Sinan, and Sinan Agricultural Cooperatives, and applications will be accepted for two months until May.

Through the business agreement, an interest rate of 7.5% per annum, more than twice the current central bank base rate of 3.5%, will be offered. The Renewable Energy Cooperative Federation will support 3%, and the seven local agricultural cooperatives in Sinan-gun will provide 4.5% interest support. Sinan-gun has agreed to actively promote the savings product.

Governor Park Woo-ryang stated, “Through the Sunlight Children Scholarship Savings, we expect to help parents reduce the financial burden of their children’s education and provide better educational opportunities, thereby laying the foundation for children to fully realize their potential.”

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