Ulju-gun Supports Returning Farmers' Agricultural Startups and Home Purchases in the First Half of the Year... Until the 5th of Next Month

by Jo Chunghyeon

Published 20 Jan.2025 11:19(KST)

Updated 01 Aug.2025 14:55(KST)

Ulju-gun, Ulsan City, will accept applications for the '2025 Ulju-gun First Half Year Return-to-Farming Agricultural Startup and Housing Purchase Support Project' from the 20th of this month until the 5th of next month to help returnees settle stably in farming.

The return-to-farming agricultural startup and housing purchase support project, conducted as a government policy loan support program, is an interest subsidy project that covers the difference between market interest rates and loan interest rates with government funds. Using funds from the NongHyup Bank, low-interest credit and secured loans are provided to project applicants.

Eligible applicants are returnees aged 65 or younger (born after January 1, 1959) based on the application year, non-farming residents living in rural areas, and those wishing to return to farming.

The support areas include two fields: agricultural startup and housing funds. Agricultural startup support covers up to 300 million KRW per household for farming infrastructure, new construction or purchase (repair) of food manufacturing and processing facilities.

Housing funds support housing purchase, new construction, and extension or remodeling, with a limit of up to 75 million KRW per household. There is no age limit for housing funds, but non-farming residents living in rural areas are excluded from this support.

Returnees must have moved into Ulju-gun within the last five years, have continuously lived outside rural areas for at least one year immediately before moving to a rural area, and have completed at least eight hours of return-to-farming and farming-related education.

Non-farming residents living in rural areas must also meet the education completion requirements, have no farming experience within the last five years, and be registered residents in rural areas for at least one year as of the application date.

Those wishing to return to farming must be scheduled to move in the current year, have lived outside rural areas for at least one year, and meet the education completion requirements.

Applicants can submit their applications through the Agricultural Policy Division of Ulju-gun Office during the application period.

Selected applicants can choose between a fixed interest rate of 2.0% per annum or a variable interest rate for the project funds loan. The repayment method is equal principal payments over 10 years with a 5-year grace period.

The final project funds will be determined based on credit and collateral evaluations by local NongHyup banks and other loan screenings, and the budget allocation from Ulju-gun will be assigned later by the Ministry of Agriculture, Food and Rural Affairs.

An official from Ulju-gun stated, “We will make every effort to ensure that returnees to farming in Ulju-gun can settle stably in agriculture and rural areas through this first half year return-to-farming agricultural startup and housing purchase support project.”

Ulju County Office.