Seongnam City Provides 1 Million Won 'Management Stabilization Fund' to 46,000 Small Business Owners
[Asia Economy (Seongnam) = Reporter Lee Young-gyu] Seongnam City in Gyeonggi Province will provide 1 million won in business stabilization funds to small business owners to overcome the crisis caused by the novel coronavirus infection (COVID-19).
The support targets all 46,000 small business owners in the region. Regardless of annual sales, the funds will be deposited into their accounts next month.
However, those who receive the business stabilization funds cannot receive the emergency living stabilization funds (300,000 to 500,000 won per household) provided to households with income below 100% of the median income.
Seongnam City has prepared a supplementary budget of 46 billion won for this purpose and will submit the "Partial Amendment to the Ordinance on Support for Small Business Owners" to the city council's extraordinary session scheduled for the 30th to 31st of this month.
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The supplementary provisions of the amended ordinance will include a clause to promulgate it immediately upon passage by the city council.
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