South Jeolla Province announced on the 12th that it will provide loans totaling 6 billion won to 33 tourism businesses selected for the first-half tourism promotion fund loan program.
The loan support aims to enhance the competitiveness of the tourism industry by stabilizing business operations and improving aging tourism facilities. The province has allocated a total of 10 billion won for the tourism promotion fund this year and plans to continue additional support in the second half.
Approximately 3.9 billion won will be provided to 14 businesses for facility funding, including new construction, expansion, and renovation of tourism facilities. About 2.1 billion won will be allocated to 19 businesses for operating funds to stabilize management and revitalize operations.
Selected businesses can execute loans through designated financial institutions, including Gwangju Bank, within six months of the selection date. A low interest rate of 1% per annum will be applied to the loans.
