Ulsan Metropolitan City announced on the 6th that it will begin the 2025 Food Promotion Fund Loan Support Project. This project was created to reduce the economic burden on local food hygiene businesses suffering from rising prices and rising loan interest rates and to improve hygiene standards.
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© [Korean Today] Ulsan Metropolitan City Hall building, reporter Hyun Seung-min |
This support project is worth a total of 500 million won, and the loan interest rate is set at 0.5% per annum. This is a very low level compared to the interest rates of commercial banks, and it is expected to effectively alleviate the burden on food hygiene businesses. The repayment method is a 2-year grace period followed by equal installments over 3 years, providing business owners with substantial financial leeway.
The support target is food manufacturing and processing plants, instant sales manufacturing and processing plants, and food service establishments registered in Ulsan City. The support items are focused on the funds for improving sanitary facilities such as installation of machinery, cooking facilities, and restrooms required at the business establishment. The loan limit varies depending on the type of business. HACCP-certified businesses can receive up to 200 million won, food manufacturing and processing plants can receive up to 100 million won, and food service establishments can receive up to 50 million won. However, if the application is made solely for the purpose of restroom improvement, support of up to 10 million won is provided.
However, businesses that do not meet certain conditions are excluded. Businesses that have received an administrative disposition higher than a suspension of business and have not passed 1 year or are in the process of receiving an administrative disposition, unregistered or new businesses, and businesses with outstanding balances on existing loans are excluded from support.
Ulsan City expects that this loan support project will help local food hygiene businesses increase their competitiveness and strengthen consumer trust. Last year, a hospitality business that received similar support saw a 30% increase in sales after improving its hygiene facilities. This project is expected to produce similar results.
To apply for a loan, you must submit an application through the ward/county health department. Detailed application procedures and required documents can be found on the Ulsan City official website ( www.ulsan.go.kr ). For further inquiries, contact the Ulsan City Food and Drug Safety Division (052-229-3654) or the ward/county health department.
An official from Ulsan City said, “This fund support will be of real help in reducing the financial burden on food businesses and improving the sanitary environment,” and added, “We ask for the active participation of local business owners.” The city also added that it will continue to pursue policies for the stability of business management and the health of citizens.
This support will play a vital role in revitalizing the local economy and creating a sanitary and safe dining culture.
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