Gangnam-gu, 1% Interest Rate... 300 Million Loan Support for Restaurant Facility Improvement

Gangnam-gu, Seoul (District Mayor Jo Seong-myeong) is accepting applications year-round for a 300 million KRW food hygiene fund loan program to support restaurant facility improvements.

This loan support program offers a low interest rate of 1% to reduce the burden on food hygiene businesses struggling with high prices and high interest rates, and to improve sanitary environments.

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The loan targets are a total of 18,360 food service establishments and food manufacturing businesses registered and operating within the district, including general restaurants, cafes, and bakeries. The loan types are divided into facility improvement funds and model restaurant development funds.

The ‘Facility Improvement Fund’ is intended for renovation and repair of business facilities and installation of essential business equipment, with loans available for up to 80% of the required costs.

Specifically, ▲food service establishments such as general restaurants, cafes, and bakeries can borrow up to 100 million KRW (2-year grace period, 3-year equal installment repayment) ▲restroom improvements for food service establishments up to 20 million KRW (2-year grace period, 3-year equal installment repayment) ▲excellent children’s preferred food sales establishments up to 30 million KRW (3-year grace period, 5-year equal installment repayment) ▲food manufacturing businesses up to 200 million KRW (3-year grace period, 5-year equal installment repayment). However, entertainment bars and nightclubs are excluded from the loan program, though they can apply for restroom improvement funds.

The ‘Model Restaurant Development Fund’ is used for improving hygiene management facilities and food culture improvements at designated model restaurants. Loans are available up to 50 million KRW with a 2-year grace period and 3-year equal installment repayment.

Business operators wishing to apply for the loan should first visit the Shinhan Bank Gangnam-gu Office branch for consultation on loan eligibility, then submit their application in person at the Gangnam-gu Public Health Center’s Hygiene Division. Applications may close early once the allocated funds are exhausted. Detailed information including required documents can be found in the notices section of the district office and public health center websites. For additional inquiries, contact the Food Hygiene Team in the Hygiene Division.

District Mayor Jo Seong-myeong stated, “We hope this food promotion fund loan support will ease the economic burden on local restaurants and contribute to improving sanitary environments,” adding, “We will continue to implement various support measures to create a clean and pleasant dining culture.”

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