Yeonggwang-gun Implements Interest Subsidy for Emergency Management Stabilization Fund to Overcome COVID-19

[Asia Economy Honam Reporting Headquarters Reporter Jeon Seong] Yeonggwang-gun, Jeollanam-do (Governor Kim Junsung) announced on the 31st that it will implement interest rate subsidies within a 2% range only for emergency management stabilization funds and emergency management difficulty funds.

The interest rate subsidy targets local small business owners and self-employed individuals who are experiencing economic difficulties due to the prolonged COVID-19 pandemic.

The county extended the special incentive period for the Yeonggwang Love Card by three months until the end of June to prepare for the local spread of COVID-19 and to overcome the economic recession, and supported the fees for the Yeonggwang Love Card.

It has implemented consumption promotion policies for small business owners who suffered sales damage due to weakened local consumer sentiment, and is also providing tax reductions for good landlords and special guarantee support for small business owners.

This interest rate subsidy for the emergency management stabilization funds is a project targeting businesses with sales decreased by more than 10% compared to the previous year, and it is a policy that effectively provides interest-free support by supporting within a 2% range of the existing interest support difference.

The project plans to support temporarily from May until funds are exhausted after concluding a business agreement with local financial institutions following the allocation of emergency budgets.

Governor Kim Junsung said, “The government has also announced emergency measures for COVID-19, such as providing emergency disaster relief funds to households below 70% of income and easing the burden of social insurance premiums,” adding, “We will prepare and implement various support measures for small business owners and self-employed individuals who are suffering economic difficulties due to the impact of COVID-19, and overcome difficult challenges together with the residents.”

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