Notification period

March in the first half (additional public notice if there are balances)

Support targets

- Those who have fixed business plan to execute overseas, after submitting an overseas forest resources development plan to Korea Forest Service

- Those who submitted an overseas forest resources development plan pursuant to Article 7 of [Overseas Agricultural and Forest Resources Development and Cooperation Act] (“Overseas Forest Resources Development Project Owner”)

Support details

Support details

Support scale	Details
Annual budget (About 4.7 billion KRW)	Support 60~100% of the expenses required for forestation, forestry products, processing facilities, forestation site purchase overseas and others (repaying over 3 years by installment after 7-year grace period)

Support procedures

• 01Loan project notification

  Korea Forest Service, Korea Forestry Promotion Institute

• 02Loan project application

  Project owners

• 03Submission and review

  Korea Forestry Promotion Institute

• 04Loan screening

  Korea Forest Service

• 05Loan decision and notification

  Korea Forest Service

• 06Loan application and extension

  National Forestry Cooperative Federation

Note

Extending loan after securing collateral in Korea