Dongducheon-si Accepting Applications for Gyeonggi-do Food Promotion Fund Low-Interest Loans

by Lee jonggu

Published 23 Jan.2025 13:17(KST)

Dongducheon City, Gyeonggi Province (Mayor Park Hyung-deok) announced on the 23rd that it will accept applications for the Gyeonggi-do Food Promotion Fund loan project at a low interest rate of around 1% to support food hygiene businesses struggling due to high inflation and interest rate hikes since January this year.

A view of Dongducheon City Hall. Provided by Dongducheon City.

Loan support is available under the following conditions: up to 500 million KRW for food manufacturing and processing facility improvement funds (20% self-payment), up to 100 million KRW for food service establishment facility improvement funds (2-year grace period, 3-year equal installment repayment), and 30 million KRW for operating funds for exemplary restaurants and hygiene grade designated businesses (1-year grace period, 2-year equal installment repayment).

Business operators wishing to apply for the loan should visit the NH Nonghyup Bank Dongducheon Branch for consultation on loan eligibility, then submit the application form and related documents to the Agriculture, Livestock and Hygiene Division of Dongducheon City Hall. The application form and required documents can be found on the Dongducheon City website. Gyeonggi Province will select the eligible businesses, and the project may be terminated early if the Gyeonggi-do Food Promotion Fund budget is exhausted.

The head of the Agriculture, Livestock and Hygiene Division of Dongducheon City said, “Through low-interest loans for food hygiene businesses struggling with high inflation and interest rate hikes, we aim to revitalize the local economy and improve hygiene standards.”