Women Entrepreneurs Support Center, 50% Reduction in Security Deposits for Resident Companies

Jung Yoon-sook, Chairperson of the Women's Enterprise Comprehensive Support Center. Photo by the Center

[Asia Economy Reporter Moon Hyewon] The Women Entrepreneurs Comprehensive Support Center announced on the 24th that it will participate in the 'Good Landlord Movement.'

The center decided to reduce the deposit by 50% for 226 startup incubation tenant companies across 17 centers nationwide, which are experiencing severe difficulties due to the prolonged COVID-19 pandemic. Existing tenant companies (185) will be refunded a total of 258 million KRW to be used as business stabilization funds. This amounts to an average of about 1.4 million KRW per company.

Earlier, since the 17th of last month, the center has set up a COVID-19 'hotline' to receive damage reports and has been guiding applicants to apply for government support projects such as business stabilization funds through specialized consultants at the Women Entrepreneurs Desk.

Additionally, depending on workplace conditions, the center supports software to enable telecommuting and provides free customized job search and recruitment advertisements for telecommuting through the 'Women Entrepreneurs Job Hub Platform.'

Jung Yunsuk, the center’s director, said, “The damage caused by COVID-19 is even harsher for women-owned businesses, most of which are small to medium-sized service industries. We hope that the Good Landlord Movement will offer some comfort and support to women startup companies residing in the 17 centers nationwide.”

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