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 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
Loan project notification
Korea Forest Service, Korea Forestry
Submission and review
Project owners
Submission and review
Korea Forestry Promotion Institute
Loan screening
Korea Forest Service
Loan decision and
Korea Forest Service
Loan application and
National Forestry Cooperative Federation
Note
Extending loan after securing collateral in Korea
