Jung-gu to Provide 500,000 KRW to All Self-Employed Affected by COVID-19 with Sales Under 100 Million KRW

Emergency Living Expenses Increased by 500,000 KRW for Small Business Owners in Jung-gu, Total Support of 1 Million KRW... Up to 2 Million KRW in Closure Support for Multi-use Facilities Complying with Closure Recommendations... Online and In-person Applications from the 16th, Duplicate Applications Not Allowed

[Asia Economy Reporter Jongil Park] Jung-gu (Mayor Seoyangho) will provide a total of approximately 9.6 billion KRW in business loss support funds and closure support funds to small business owners who suffered damage due to COVID-19.

To maintain the livelihood stability of small business owners located in Jung-gu who have suffered economic damage from COVID-19, business loss support funds will be provided.

The support target is businesses with annual sales of less than 100 million KRW based on 2019, whose sales as of March this year have decreased by 30% or more compared to March of the previous year.

The business period must be at least one year, and the business must have been opened before April 1, 2019.

The support amount is 500,000 KRW, and small business owners residing in Jung-gu can receive an additional 500,000 KRW emergency living expense, totaling 1,000,000 KRW.

The application period is from the 16th to May 1st, and applications can be made online (Munseo24: https://open.gdoc.go.kr/index.do) or by visiting the first floor of Jung-gu Office. For in-person applications, a five-day rotation system (based on the last digit of the business representative’s birth year) will be applied, so caution is required. Support funds will be paid sequentially in May.

Required documents include the application form, a copy of the business registration certificate, a copy of the bankbook, sales damage proof documents, and the previous year’s value-added tax taxable standard certificate. Sales damage proof documents include data from VAN companies, card companies, POS (Point of Sale) systems, and electronic tax invoice sales records.

Additionally, as part of social distancing measures, closure support funds will be provided to multi-use facilities that participated in closures.

The support target includes businesses with fewer than 10 employees that participated in closure for at least one day during the recommended closure period, such as fitness centers, PC rooms, karaoke rooms, urban guesthouses, and academies. Support is 100,000 KRW per closure day, and businesses that complied with both the first and second closure recommendation periods can receive up to 2,000,000 KRW.

Businesses that closed during the first closure recommendation period (March 23 to April 5) must apply from the 16th to the 24th (excluding holidays), and those that closed during the second closure recommendation period (April 6 to April 19) can apply from the 20th to May 1 (excluding holidays). However, businesses that closed during both periods and wish to apply collectively can apply after the 20th. Support funds will be paid within one week from the date of application.

Applications can be made online or by visiting the first floor of Jung-gu Office, similar to the business loss support fund. Required documents include the application form, a copy of the business registration certificate, a copy of the bankbook, and closure proof documents that objectively verify that no sales occurred during the recommended closure period.

Applications for closure support funds and business loss support funds cannot be made simultaneously. Entertainment establishments, gambling, and speculative businesses are excluded, as well as small business owners who have closed as of the application date and non-profit businesses.

For more details, please contact the Traditional Market and Small Business Support Team at Jung-gu Office.

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