Gyeonggi Province Offers 1% Low-Interest Loans for Facility Improvement and Operating Funds for Food Sanitation Businesses

Gyeonggi Province is offering low-interest loans at an annual rate of 1% to help food manufacturing and processing businesses, as well as food service establishments, replace production facilities or improve amenities such as restrooms.

On June 8, Gyeonggi Province announced the launch of the "Facility Improvement Fund Loan Program for Food Sanitation Businesses" to reduce the economic burden on business owners struggling with the economic downturn and rising operating costs. The program aims to provide low-interest loans to food sanitation businesses in the province, enabling them to improve aging facilities and create a more hygienic and safe environment for food provision.

The loans are funded by the Gyeonggi-do Food Promotion Fund, with a total budget of 4.2 billion won allocated for this year. Eligible recipients include food sanitation businesses such as food manufacturing and processing establishments in 31 cities and counties. The support categories are: ▲ Facility improvement funds for food manufacturing and processing businesses; ▲ Facility improvement funds for food service establishments; ▲ Restroom facility improvement funds for food service establishments; and ▲ Operating funds for exemplary restaurants and hygiene-grade designated businesses.

Specifically, the facility improvement fund for food manufacturing and processing businesses offers up to 500 million won per business, while the facility improvement fund for food service establishments provides up to 100 million won per business. Both loans carry an annual interest rate of 1% and require repayment in equal installments over three years after a two-year grace period. However, for the facility improvement fund for manufacturing and processing businesses, owners must cover 20% of the construction costs themselves.

Gyeonggi-do Food Promotion Fund Facility Improvement Fund Loan Support Guide Table

The restroom facility improvement fund for food service establishments provides up to 20 million won, and the operating fund for exemplary restaurants and hygiene-grade designated businesses offers up to 30 million won. These loans also carry an annual interest rate of 1%, with repayment in equal installments over two years after a one-year grace period.

Gyeonggi Province expects that this loan program will help improve the hygiene of production facilities in food manufacturing and processing businesses, renovate outdated facilities in food service establishments, and support the stable operation of hygiene-grade designated businesses, thereby enhancing food hygiene standards and revitalizing the local economy.

Businesses wishing to apply should contact the food sanitation department of their respective city or county office to receive detailed information on the application process and required documents.

Jeong Yeonpyo, Director of Food Safety at Gyeonggi Province, stated, "This loan program is designed to help food sanitation businesses in the province improve their facilities and maintain stable operations through low-interest financing. We encourage owners of food manufacturing and processing businesses, as well as food service establishments, to actively apply so they can receive practical support in improving hygiene standards and easing their financial burdens."

This content was produced with the assistance of AI translation services.