Incheon City Provides Up to 3 Million KRW Support to Businesses Affected by Visits from COVID-19 Confirmed Cases

Incheon City Hall

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 19th that it will provide up to 3 million won in support to small business stores affected by visits from confirmed cases of the novel coronavirus infection (COVID-19).

The city has secured a total budget of 570 million won to support reopening costs such as material costs, promotion and marketing expenses, utility and management fees, excluding labor and rent, for small business stores that suffered direct damage such as decreased sales due to visits by confirmed COVID-19 cases or business owners being diagnosed as confirmed cases.

To enable rapid execution and help affected stores resume operations, the city has simplified administrative procedures such as small business verification, and the presence of confirmed case visits will be directly verified by the district or county offices.

Eligible stores can apply to the district or county where their business is located from the 20th until the 1st of next month, and support funds will be provided sequentially in May. However, industries excluded from small business policy loan support are not eligible for this assistance.

An official from Incheon City stated, "We hope this support will help small business owners who are experiencing economic difficulties due to visits from confirmed COVID-19 cases," adding, "We will actively work to create a foundation for revitalizing the local commercial district so that the stagnant livelihood economy can recover quickly."

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