Daegu City Provides 1 Million Won Survival Fund to Small Business Owners Affected by COVID-19

Manufacturing and Special Employment Support Industries Such as Accommodation and Food Services with Sales Decrease of 10% or More

On the 7th, medical staff at Daegu Dongsan Hospital are running in front of the negative pressure isolation room for treating confirmed cases of the novel coronavirus infection (COVID-19).
[Image source=Yonhap News]

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Daegu City announced on the 7th that it will provide survival funds of 1 million KRW in cash to small business owners affected by the novel coronavirus infection (COVID-19).

The payment targets are manufacturing businesses with fewer than 10 regular employees and sales of 12 billion KRW or less, lodging and food service businesses with fewer than 5 regular employees and sales of 1 billion KRW or less. Only small business owners whose total sales in February or March decreased by 10% or more compared to January are eligible.

The number of eligible manufacturing businesses is estimated to be about 184,000. Target businesses can apply online or through merchant associations, professional organizations, or the Industrial Complex Corporation from the 13th to May 15th.

Online applications will be processed on an odd-even basis according to the last digit of the business representative’s birth year. Applications through community centers will be accepted from the 20th to May 15th, also on an odd-even basis.

Businesses in sectors participating in social distancing such as academies and religious facilities, as well as special employment support sectors like performance, travel, tourism lodging, and chartered buses, will also receive 1 million KRW each. Daegu City estimates about 16,000 such businesses.

These businesses and sectors can apply by visiting the relevant Daegu City department or designated related organizations, or by email.

A Daegu City official explained, "The survival funds will not be distributed on a first-come, first-served basis but will be paid from the 20th of this month to the 20th of next month regardless of the order of application," adding, "For inquiries, contact the Small Business Survival Fund Call Center or the 120 Dalgubeol Call Center."

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