Jeongeup-si, All-Out Effort to Save Small and Medium Enterprises Amid COVID-19 Spread

[Asia Economy Honam Reporting Headquarters Reporter Kim Jae-gil] Jeongeup City, Jeonbuk Province, has stepped up to revitalize the local economy, which has been stagnating due to the impact of COVID-19.

On the 24th, the city announced that it will operate a damage reporting center for small and medium-sized enterprises (SMEs) affected directly or indirectly by COVID-19, in response to the prolonged COVID-19 virus and its spread to neighboring local governments.

Through the operation of the damage reporting center, the city plans to actively support SMEs in overcoming difficulties by assessing the damage situation and receiving suggestions.

The city plans to provide additional support for loan interest to stabilize the management of SMEs that have suffered damage.

They will add 0.5% interest support on top of the existing 2% interest support and simplify the application process for prompt handling.

Additionally, the city will strengthen support in relevant areas by awarding extra points to all SME support projects promoted by the city, such as SME environment improvement projects and support for participation in exhibitions.

Along with this, the city plans to distribute a response manual for preventing the spread of COVID-19 and promote measures to address management difficulties and compensation plans for damaged companies through on-site communication.

Mayor Yoo Jin-seop said, “I hope this will help stabilize the management of SMEs struggling due to the COVID-19 impact, even if just a little,” and added, “We will continue to seek various support measures to contribute to revitalizing the local economy.”

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