Hamyang County Accepts Loan Applications for Second Half Income Specialization Support Project

Applications Accepted Until July 30 ... Up to 30 Million Won for Individuals, 50 Million Won for Corporations, 1% Annual Interest Rate for Farmers

Hamyang County in Gyeongnam will be accepting applications for agricultural income specialization support project loans at the local town and township offices until the 30th.

A view of Hamyang County Office.

The support scale for the income specialization support project, which was established to improve agricultural management and strengthen the competitiveness of agriculture, amounts to 3 billion KRW. The repayment terms are an annual interest rate of 1%, available only for operating funds, with a one-year grace period and equal installment repayment over three years.

Operating funds can only be used for the purchase of materials necessary for farming, such as seeds (seedlings), pesticides, fertilizers, usage fees, land/facility/equipment rental fees, transportation costs, and distribution, sales, and processing expenses. Individual farmers can apply for up to 30 million KRW, and corporations or producer organizations can apply for up to 50 million KRW.

To apply for the loan, applicants must submit a loan application form, business plan, and other required documents to the town or township office of their registered address. After a review process, those selected as recipients will be able to receive support according to the loan regulations of the Hamyang County branch of Nonghyup Bank, located in Hamyang-eup, starting from the end of August.

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