Jeongeup-si Accepting Applications for 'Rural Income Project Support Loans' Until the 29th

Jeongeup City in Jeonbuk is accepting applications for this year's Agricultural and Fishing Village Income Project Support Loan (formerly Resident Income Support Fund) until the 29th.

According to the city on the 15th, this loan support project has been newly reorganized to increase farmers' income and establish a foundation for self-reliance.

Jeongeup City Hall. [Photo by Jeongeup City]

Applicants must be farmers, livestock farmers, or fishery workers who have resided in Jeongeup for more than two years, and eligible projects include production income projects, production infrastructure development, and rural tourism and recreation projects.

The loan limit has been increased from the previous 30 million KRW to 50 million KRW, and the repayment period has been adjusted to a 2-year grace period followed by 5 years of equal installments.

Additionally, the loan interest rate has been lowered from 2% per annum to 1%, significantly reducing the interest burden on recipients.

Applicants wishing to apply should prepare the loan application form and required documents and submit them to their local eup, myeon, or dong community service center by the 29th.

The loan amount will be determined within the applicant's eligible loan range, and a credit investigation report from NongHyup must be obtained and submitted in advance for this purpose.

A city official stated, "This project reorganization will greatly help expand the self-reliance foundation of farming households," and added, "We will conduct a strict review in selecting loan support recipients."

Jeongeup = Asia Economy Honam Reporting Headquarters, Reporter Kim Jaegil baekok@asiae.co.kr

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