Jeongeup-si Recruiting Applicants for 'Return-to-Farming Agricultural Startup and Housing Purchase Support Project'

Published 14 Feb.2024 10:14(KST)

Jeongeup-si, Jeonbuk Province, supports returning farmers by providing agricultural startup funds and housing purchase funds to alleviate the burden of securing residential spaces and to promote stable settlement.

According to the city on the 14th, this project offers agricultural startup funds up to 300 million KRW per household and housing purchase or new construction funds up to 75 million KRW. It is a secondary interest subsidy project where the government budget covers the difference between the loan interest rate and a low interest rate.

Jeongeup City supports 'funds for agricultural start-ups and housing purchase funds for returnees to farming' to alleviate the burden of securing residential spaces for returnees and to provide stable settlement support.
[Photo by Jeongeup City]

The loan interest rate is either variable or fixed at 1.5% per annum, and the repayment method is a 5-year grace period followed by 10 years of equal principal installment repayments.

The loan amount is finally determined within the limit based on the applicant’s business performance and the credit and collateral evaluation by the lending institution.

Eligibility requires the applicant to be the head of a household aged 65 or younger (born after January 1, 1958) as of the application year, who has worked in non-agricultural industries in urban areas, has continuously resided for more than one year, and has moved to Jeongeup within the past five years. Additionally, applicants must complete at least 8 hours of returning farmer education.

Non-agricultural residents in rural areas must have no farming experience within the last five years and must have been registered residents in Jeongeup for more than one year as of the application date, meeting both residency duration and education completion requirements.

Prospective returning farmers may apply for the project assuming they meet all eligibility criteria, but fund applications are only possible after relocation.

Those who have full-time jobs or business registration certificates in industries other than agriculture are excluded. Applicants must submit the application form and required documents to their local eup/myeon office or dong community center, and final candidates are selected through an in-depth interview by the selection committee.

Applications can be submitted at the local eup/myeon office or dong community center by the 23rd of this month.

Mayor Lee Hak-su stated, “We will do our best to select candidates for the returning farmers’ agricultural startup and housing purchase support project so that those who choose Jeongeup as their second home can settle down stably.”