Extended repayment period for farming and fishing loans
Province earmarks \360b annually for program

The provincial government is easing the repayment system for loans from the farming and fishing village promotion fund.

Beginning now, in the second half of the year, borrowers will be given one more chance to get loans. Then, the total amount borrowed, which may include a previous loan, will have to be repaid within two years. That makes the effective term of the loan four years.

Regarding loans taken out for facilities, borrowers will not be required to begin making payments for three years. The previous period was two years. They will then have to pay back the money in installments over five years, rather than the previous three.

The provincial government earmarks 360 billion won annually for the farming and fishing village promotion fund. Borrowers can get loans from it at a 0.9 percent annual interest rate.

道농어촌진흥기금 융자 기간 연장

농어촌진흥기금 융자 상환 제도가 개선됩니다.

제주특별자치도는 올 하반기부터 2년 이내에 상환해야 하는 농어촌진흥기금 운전자금의 경우 한차례 연장해 최장 4년까지 활용할 수 있도록 완화합니다.

또 시설자금 역시 2년 거치 3년 균분상환에서 3년 거치 5년으로 상환기간을 연장합니다.

제주도는 해마다 3천 600억원 규모, 이자율 0.9%의 농어촌진흥기금을 융자지원하고 있습니다.