Boryeong City to Provide Loans of up to 30 Million Won for Residents Near Power Plants

Support for Increasing Income and Improving Residential Environment
for Residents of Jupo, Jugyo, Ocheon, and Cheonbuk Areas

Boryeong City Hall Exterior View

Boryeong City in South Chungcheong Province has announced a large-scale support plan to help stabilize the lives of residents living near the power plant and to revitalize the local economy.

On the 4th, Boryeong City stated that it will invest 800 million won to implement the '2025 Loan Support Project for Welfare of Residents and Corporate Attraction in Areas Surrounding Power Plants.'

This project is designed to support residents of Jupo-myeon, Jugyo-myeon, Ocheon-myeon, and Cheonbuk-myeon, where the power plant is located, by increasing their income, improving residential environments, and supporting livelihood stabilization projects.

Companies using industrial electricity can also receive differentiated support depending on the number of employees.

Residents in the designated areas can receive loans of up to 30 million won, while companies can borrow between 60 million and up to 300 million won depending on the number of employees. The repayment terms are a two-year grace period followed by three years of installment payments, with a low annual interest rate of 1% applied.

Last year, the city provided support totaling approximately 750 million won to 21 people.

Applications for the support project can be submitted from March to October at the local administrative welfare centers. However, applications may close early if the budget is exhausted.

Additionally, to receive the loan, applicants must pass a loan review by Nonghyup Bank, so prior consultation is required.

A city official stated, "This project is an important policy to substantially improve the welfare of residents living near the power plant and to support the stable growth of local companies. We will continue to implement various support policies to revitalize the local economy and enhance resident welfare."

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