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
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