To foster a sustainable resource-recycling society in the 21st century, the Korea Resources Recovery and Reutilization Corporation(KORECO) has announced its plans to drastically expand the categories and services subject to the support loans for the recycling industries. Also, there will be a sharp increase in the maximum amount of the supportable loans, as well as a drastic cutdown in the interest rates.

The size of the support funds for the recycling businesses has expanded to 60 billion won, and the annual interest rates of the loan were reduced from 5.42% to 5.33%, which is about 0.09% of reduction.

Through the expansion of the loans for the recycling industries, the corporation expects a significant reduction of wastes generation as well as an active promotion of the recycling activities.

The registration period for the application of loans is from Jan. 6, 2003, to Dec. 10, 2003. For a prompt support, the process of inspection and approval will be facilitated in the KORECO branch offices in the nearby areas.