Yeongdeok County is accepting applications for the 2027 Gyeongsangbuk-do Rural and Fishing Village Promotion Fund support project.
Applicants can borrow funds for agricultural and fishing operations and facility investment, but applying does not confirm eligibility for support.
The available amount varies depending on the limits for individuals and corporations and whether the funds are intended for a smart farm.
3-line summary
1. Yeongdeok County is accepting applications for the Rural and Fishing Village Promotion Fund
2. The interest rate is 1.0% annually, and the deadline is October 27
3. Final recipients will be reviewed by Gyeongsangbuk-do
Up to 2억 won for individuals and 10억 won for smart farm corporations
Yeongdeok County announced that it will accept applications for the 2027 Gyeongsangbuk-do Rural and Fishing Village Promotion Fund through October 27 to support the management stability and facility investment of agricultural and fishing operators. The loan interest rate is 1.0% annually.
Under the general criteria, individual agricultural and fishing operators can apply for up to 2억 won, while corporations and organizations related to agriculture and fishing can apply for up to 5억 won. The limit is higher when the purpose is to establish a smart farm. Yeongdeok County explained that individuals can apply for up to 5억 won and corporations for up to 10억 won.
However, these amounts are loan application limits, not support funds paid to every applicant. The actual recipients and support amounts will be decided through a subsequent review process. The smart farm limit also applies to applications intended for development.
Operating funds and facility funds have different uses
Operating funds can be used for costs needed for routine agricultural and fishing activities, such as agricultural and fishing materials including seeds and fertilizer, small agricultural machinery, and feed purchases for livestock farms and aquaculture facilities.
Facility funds are used for purposes such as constructing agricultural and fishing greenhouses and buildings, establishing facilities, and purchasing large agricultural machinery and modern fishing gear. Even with the same low-interest loan, the contents of the business plan may differ depending on whether the funds are needed immediately for operations or for facility investment to expand the production base.
The key point of this support is that applicants must distinguish the purpose of the necessary funds and their business plan when applying, rather than focusing solely on the large limit. Listing operating funds and funds for equipping facilities together may obscure the purpose of the application.
Final review by Gyeongsangbuk-do after submission to Yeongdeok County
Eligible applicants are agricultural and fishing operators with addresses in Yeongdeok County, as well as agricultural- and fishing-related organizations and corporations located in the county. Applicants must prepare a business plan and relevant supporting documents and submit them in person to the Agricultural Policy Division of Yeongdeok County Office.
Yeongdeok County announced that, after receiving applications, it plans to evaluate the business plans, scale of farming operations, financial condition, and other factors before submitting them for review by Gyeongsangbuk-do. Final recipients will be confirmed following deliberation by the Gyeongsangbuk-do Fund Management Review Committee.
Therefore, rather than checking only the application deadline, it is important to first examine whether one’s business falls under operating funds or facility funds and review the required documents. Applicants should also confirm that submission and final selection are separate procedures.
References
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