Gyeonggi-do Increases Facility Fund Support Limits for Farmers and Fishermen... Support Targets Also Detailed

Gyeonggi Provincial Government

Gyeonggi Province is raising the facility fund support limit for farmers and fishermen from a maximum of 100 million won to 300 million won. Additionally, the loan support targets have been subdivided to make it easier for recipients to utilize the Agricultural Development Promotion Fund loans.

Gyeonggi Province announced the partial amendment of the "Gyeonggi Province Agricultural and Rural Development Fund Establishment and Operation Ordinance Enforcement Rules" on the 22nd. This amendment was made to clarify the loan support targets for the Agricultural Development Account and to adjust the loan support limits to promote efficient allocation of resources.

The amendment distinguishes loan targets by categorizing them into agricultural and fishery management entities, which represent farmers and fishermen, and a broader category called agri-food management entities.

Furthermore, the funding support limits have been separated by individual and corporate borrowers, with increased support amounts for each loan type.

The facility fund loan support limit has been raised from a maximum of 100 million won to 300 million won for individual agricultural and fishery management entities, reflecting costs associated with facility modernization. Corporate agricultural and fishery management entities can continue to receive support up to a maximum of 500 million won.

For operating funds, individual agricultural and fishery management entities can receive up to 100 million won, while corporate entities can receive up to 200 million won. Agri-food management entities operating rice processing centers can receive up to 500 million won in loans for purchasing Gyeonggi rice.

This amendment to the enforcement rules will take effect on January 1, 2025.

Gong Jeong-sik, Director of the Gyeonggi Province Agriculture, Fisheries and Life Sciences Bureau, explained, "We clarified the support limits separately for corporations and individuals and improved the system to provide customized support that fits the characteristics of agri-food management entities."

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