Gyeonggi-do Provides Emergency Funding of 20 Billion KRW to Farmers and Fishermen Affected by Heavy Snowfall

Gyeonggi Province will urgently provide 20 billion KRW in low-interest loans to help agricultural and fishery households recover their management and restore facilities damaged by heavy snowfall.

The applicants must be agricultural and fishery management entities affected by the heavy snowfall, and must be confirmed agricultural and fishery households registered in the National Disaster Management System (NDMS).

The support interest rate is 1% per annum, and the support items include operating funds and facility funds. The operating funds are up to 100 million KRW for individuals and 200 million KRW for corporations, while the facility funds are up to 300 million KRW for individuals and 500 million KRW for corporations.

The repayment period for operating funds is a 2-year maturity repayment, and for facility funds, it is a 3-year grace period followed by 5 years of equal installments. However, for youth aged 18 to under 40, a 5-year grace period followed by 10 years of equal installments is available.

Applications for funds can be submitted from January 6 to 17 next year to the agricultural department of the city or county based on the business location address. Gyeonggi Province will verify eligibility in cooperation with the city and county offices, finalize the recipients in January, and start loan support as early as early February.

Gyeonggi Provincial Government

This loan support is a measure to help agricultural and fishery households severely damaged by the heavy snowfall at the end of November this year regain management stability and recover.

Agricultural and fishery operating funds support households to continue sustainable management, while facility funds are used to restore and modernize the production base of agriculture and fisheries.

Earlier, on the 12th of this month, Gyeonggi Province implemented a policy to waive all interest on loans from the Agricultural and Rural Development Fund to support the management recovery of agricultural and fishery households affected by the heavy snowfall.

In addition to this support, various policies are being promoted to help modernize agricultural and fishery facilities and improve productivity.

Gong Jeong-sik, Director of the Gyeonggi Province Agriculture, Fisheries and Life Sciences Bureau, said, "We will continue to prepare support measures so that agricultural and fishery households damaged by the heavy snowfall can recover their management as soon as possible," and promised, "We will promote various policies to improve the quality of life of farmers and strengthen the competitiveness of Gyeonggi Province's agriculture."

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