Gokseong-gun Expands Support for Small Business Owners Starting This Year

[Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Gokseong-gun, Jeollanam-do is steadily expanding the support recipients for subsidies to local small business owners and is focusing on revitalizing the neighborhood economy.

According to Gokseong-gun on the 17th, since 2014, the county has been providing environmental improvement subsidies to local small business owners for workplace facility improvements and the replacement purchase of outdated equipment, and last year supported 107 locations with 570 million KRW.

This year, the small business environmental improvement project supports up to 7 million KRW for facility improvement costs and the purchase of outdated machinery within 70% of the total project cost. However, only up to 2 million KRW can be used for purchasing outdated machinery. Small business owners who have had their address and workplace in Gokseong-gun for more than six months as of the application date can apply.

In addition to existing small business owners, the subsidy support is also expanded to new startups. Since 2018, Gokseong-gun has supported youth startups under the age of 49 to create youth jobs.

However, considering that middle-aged and older people might be excluded from job opportunities, the ordinance was amended last year to provide a basis for startup support funds for those aged 50 and above starting this year. As a result, in Gokseong-gun, all entrepreneurs aged 15 and above can receive startup subsidies.

The startup fund for the middle-aged and older entrepreneurs supports up to 20 million KRW within 70% of the total project cost for remodeling inside and outside the workplace and equipment establishment, similar to the existing youth startup support. Eligible applicants are prospective entrepreneurs aged 50 or older with an address in Gokseong-gun as of the application date and entrepreneurs who started their business within six months. The application deadline this year is until the 31st, and applications can be submitted to the town or township office where the business is located. For more details, inquiries can be made to the county office’s Urban Economy Division or the town/township office.

A county official said, “We hope not only to increase the income of small business owners but also to revitalize the local economy,” and added, “We plan to promote various projects for small business owners this year as well.”

This content was produced with the assistance of AI translation services.