Seoul 'Self-Employed Survival Fund' Applications Open from the 25th … 1.4 Million KRW Cash Payment

For Small Business Owners with Annual Sales Under 200 Million KRW and Over 6 Months in Operation
Online Applications Use a 5-Day Rotation, In-Person Submissions Use a 10-Day Rotation... Check Application Dates

A banner related to Seoul City's survival fund support for self-employed workers is installed on the outer wall of Seoul Library. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Jo In-kyung] The Seoul Metropolitan Government announced on the 18th that it will begin accepting online applications for the 'Seoul Self-Employed Survival Fund,' which provides 700,000 KRW per month in cash for two months to small business owners and self-employed individuals with low income, starting from the 25th of this month. In-person applications will begin on June 15.

The support targets approximately 410,000 self-employed and small business operators registered in Seoul with annual sales under 200 million KRW last year (excluding certain industries such as entertainment, nightlife, and gambling). However, the business must have been operating for at least six months as of the end of February this year.

Considering that there are about 570,000 small businesses in Seoul (excluding about 100,000 restricted businesses), about 72% or 7 out of 10 will receive support, with a total budget of 574 billion KRW.

The Self-Employed Survival Fund can be received in conjunction with the government's 'Emergency Disaster Relief Fund' and 'Seoul-type Emergency Living Expenses,' but cannot be combined with the 'Seoul Special Support Fund for Special Employment and Freelancers.'

Online applications can be submitted from the 25th of this month until the 30th of next month via the Seoul Self-Employed Survival Fund website (www.smallbusiness.seoul.go.kr) using a PC or mobile phone. To facilitate smooth processing, applications will be accepted on weekdays according to a '5-day rotation system' based on the last digit of the applicant’s (business owner’s) birth year, while on weekends, applications are accepted regardless of birth year.

In-person applications can be made from June 15 to 30 by bringing the required documents to a Woori Bank branch or designated locations within the district where the business is located. To avoid confusion, in-person applications will follow a '10-day rotation system' based on the last digit of the birth year. Starting June 15 for those whose birth year ends in '0,' June 16 for '1,' June 17 for '2,' and so on. On June 29 and 30, anyone who missed the application period can apply.

The city has simplified the application process so that online applications require only simple identity verification and entry of the business registration number without submitting documents, and in-person applicants need only submit the application form, ID, a copy of the business registration certificate, and a copy of the bankbook. If the applicant cannot visit in person, proxy applications are allowed with a power of attorney.

Screening will be conducted using administrative data from the Seoul Regional Tax Office and the National Health Insurance Service. For more details, visit the Seoul Self-Employed Survival Fund website or contact the 120 Dasan Call Center or the local district office where the business is located.

Seo Seong-man, Director of Labor and Livelihood Policy at Seoul City, said, "Most small business owners are experiencing severe sales declines due to COVID-19, and many are even considering closing their businesses. We hope the Seoul Self-Employed Survival Fund will provide the strength to endure for those facing livelihood cliffs and help revitalize the local economy."

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