Gokseong County Provides 2.1 Billion Won in Resident Income Support Fund Loans

27 Selected from Agriculture, Livestock, and Small Business Sectors

Gokseong County held the 'Resident Income Support Fund Management Committee' at the county office's Communication Maru on the 17th and selected 27 recipients for this year's fund loan project. Photo by Gokseong County

Gokseong County, Jeollanam-do (Governor Cho Sangrae) announced on the 18th that it held the “Resident Income Support Fund Management Committee” on the 17th at the county office’s Communication Maru to select recipients for the 2025 Resident Income Support Fund loan program.

The Gokseong Resident Income Support Fund is a fund established to promote self-reliance among residents and revitalize investment in rural areas by providing low-interest loans to residents for income-generating projects.

The fund management committee, chaired by Vice Governor Jeong Changmo and attended by 15 committee members, reviewed and approved the selection of this year’s loan recipients, deciding to provide approximately 2.1 billion KRW in support to 27 individuals.

By business sector, the recipients include 16 in agriculture, 8 in livestock, and 3 small business owners, supporting projects such as farmland purchase, seedling and sapling purchase, Korean beef cattle introduction, feed purchase, and restaurant startups for facility and operating funds. Depending on individual credit and collateral capacity, low-interest loans at 1% are available through the NH Nonghyup Bank Gokseong Branch within the possible loan execution limit. Facility funds must be repaid in equal installments over five years after a four-year grace period, while operating funds can be repaid in a lump sum after a two-year grace period or in equal installments over three years.

Jeong Changmo, Vice Governor and Chair of the Resident Income Support Fund Management Committee, stated, “We expect the Resident Income Support Fund to become a cornerstone for building a new Gokseong and a hopeful future for our residents by increasing their income and revitalizing the local economy.”

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