Open to returnees aged 65 and under through July 16
Siheung is accepting applications through July 16 for its 2026 loan program to help people who have relocated to fishing or rural communities settle in the area.
The program is open to returnees aged 65 and under who have moved to fishing or rural villages.
Eligible applicants can receive loans of up to 300 million won ($193,000) for starting a fishing business and up to 75 million won for housing purchases. However, the actual loan amount will be determined based on the applicant's business plan and the results of a credit and collateral review by the lending institution.
Loans carry an annual interest rate of 1.5 percent, with a five-year grace period followed by repayment in installments over 10 years. The city plans to subsidize the difference between the loan rate and the benchmark interest rate to ease the financial burden on new residents during their initial settlement period.
Those wishing to apply must visit the Siheung Marine and Fisheries Division at 54 Wolgot Jungang-ro and submit an application form along with required documents by July 16. Full program details and eligibility requirements are available on the Siheung city government website.
"We are continuing to provide practical support so that people returning to fishing and rural communities can settle in stably," a city official said. "We hope this program will help attract new residents to fishing villages and revitalize the local community."
pjh@heraldcorp.com
