Yongin City Provides Financing Support for Agricultural Product Processing Facilities and Operating Costs

Yongin City announced that it will provide long-term, low-interest loan financing at an annual rate of 1.5% for agricultural and fishery production and distribution facilities and operating capital to agricultural product processing companies this year. This year, support has been expanded from rice processing companies to agricultural product processing companies.

Agricultural product processing companies are businesses that produce new products by causing physical, chemical, or biological changes to agricultural products produced in the province as raw materials. While primarily using agricultural products produced within the province as raw materials, if the supply of produced agricultural products is insufficient, raw materials produced in domestic regions outside Gyeonggi Province may be included.

Companies with agricultural product processing facilities located in residential or commercial areas in urban areas, and unregistered individual business operators that are not incorporated enterprises are excluded from support eligibility.

For facility funds, applications are possible up to a maximum of 500 million won per corporation, with repayment conditions of three years grace and five years equal repayment. For operating capital, applications are possible up to a maximum of 100 million won per corporation, with a repayment condition of two years maturity repayment.

Applications should be submitted to the Agricultural Policy Division, Agricultural Policy Team of Yongin City by the 21st of next month. (Inquiry: Yongin City Agricultural Policy Division, 031-324-2315)