Gangdong District Offers Facility Improvement Loans of up to 50 Million Won for Food Sanitation Businesses

1% Annual Interest Rate... Applications Accepted Until Budget Runs Out

On August 4, Gangdong District Office in Seoul announced that it will launch the ‘Facility Improvement Loan Support Program for Food Sanitation Businesses’ to help reduce the costs associated with facility upgrades for food sanitation establishments.

Front view of Gangdong District Office building. Courtesy of Gangdong District.

The entirety of the funding for the project will be provided by the district. Gangdong District will support up to 80% of the improvement costs per establishment, with a maximum limit of 50 million won per business. The loan carries an annual interest rate of 1%. After a one-year grace period, the loan should be repaid in equal installments over three years. Applications will be accepted until the budget is exhausted.

The support covers general restaurants, snack bars, bakeries, contracted food service establishments, businesses related to health functional foods, and food manufacturing businesses. The loan can be used for upgrading outdated facilities inside the premises, such as kitchens, seating areas, restrooms, and ventilation systems.

However, simple consumable purchases, interior decoration costs, labor expenses, and lease deposits are excluded from the loan coverage. Moreover, karaoke bars and entertainment bars are generally not eligible. However, they may apply if they intend to improve restroom facilities.

Lee Suhee, Mayor of Gangdong District, stated, “Facility improvements are a crucial investment that enhances business competitiveness and builds trust in our local commercial district,” adding, “We aim to create a local economy where both business owners and consumers are satisfied through substantial support that reflects feedback from the field.”

Businesses wishing to apply can call the Health and Hygiene Division of Gangdong District Office at 02-3425-6617 or visit in person for consultation and application.

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