Da·Jungso Enterprises and Agriculture-Fishery Cooperation Foundation Support Win-Win Cooperation Fund for SMEs Affected by COVID-19
[Asia Economy Reporter Kim Cheol-hyun] The Foundation for Large and Small Business and Agriculture-Fishery Cooperation (Secretary General Kim Soon-chul, hereinafter referred to as the Cooperation Foundation) announced on the 20th that it will support the Large and Small Business Win-Win Cooperation Fund together with large corporations and public institutions to help small and medium-sized enterprises (SMEs) struggling due to the recent spread of the novel coronavirus infection (COVID-19).
So far, 17 companies have contributed to the Win-Win Cooperation Fund to support COVID-19 damage, and a support project worth 5.7 billion KRW is being promoted targeting about 3,500 SMEs. LG Household & Health Care is supporting 50% of the March rent for about 500 cosmetics franchise stores such as The Face Shop and Nature Collection, and is promoting sustainable win-win management with partners by supporting employee wages of cosmetics direct sales agencies and daily necessities agencies. Hoban Construction has supported a total of 2 billion KRW in wages to partner companies to overcome COVID-19. In particular, it prioritized partner companies in Daegu and Gyeongbuk by providing 20 million KRW per company, and supported 10 million KRW each for other regions to stabilize partner companies' management. Lotte Hi-Mart, Lotte Home Shopping, Shinsegae, and E-Mart are also providing quarantine support mainly to delivery partners who find it difficult to conduct self-quarantine due to business circumstances.
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The Cooperation Foundation plans to continue efforts to minimize the damage to SMEs in cooperation with large corporations and public institutions to respond to COVID-19, and will conduct corporate consulting on the use of the Win-Win Cooperation Fund as needed. Secretary General Kim Soon-chul said, "The Cooperation Foundation will work closely with companies to ensure timely and prompt support to overcome COVID-19."
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