Hamyang County Accepts Applications for Income Special Support Project Loans ... 1% Annual Low Interest Rate

Up to 30 Million KRW for Individuals
Up to 50 Million KRW for Corporations

On July 1, Hamyang County in South Gyeongsang Province announced that applications for the '2025 Second Half Income Special Support Project' loan program, which aims to support the management stability and income growth of farmers, will be accepted from July 14 to July 30 at the local town and township offices corresponding to each applicant's address.

This Income Special Support Project will be implemented with a total budget of 3 billion KRW and is designed to provide operating funds to improve farm management and strengthen agricultural competitiveness. The loans will be provided at a low annual interest rate of 1%, with repayment structured as a one-year grace period followed by equal installments over three years.

Aerial view of Hamyang County Office.

The operating funds can be used for purchasing agricultural materials such as seeds (seedlings), pesticides, and fertilizers, as well as for land, facility, and equipment rental fees, transportation costs, and expenses related to distribution, sales, and processing. The maximum loan amount is 30 million KRW for individual farmers and up to 50 million KRW for corporations and producer organizations.

Farmers wishing to apply should visit their local town or township office and submit a loan application form, a business plan, and other required documents. Hamyang County will select recipients through a review process, and those selected will be eligible to receive loan support from the end of August in accordance with the lending regulations of Nonghyup Bank Hamyang County Branch.

An official from Hamyang County stated, "We expect that this project will provide practical assistance in alleviating farmers' financial burdens and promoting stable agricultural management," and added, "We hope for the active interest and participation of many farmers."

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