Chungnam Provides 'Emergency Support' to Transportation Industry in Areas with Sales Decline

[Asia Economy (Naepo) Reporter Jeong Il-woong] Chungnam Province will newly provide 30 billion KRW in emergency management stabilization funds to local passenger and freight automobile transportation operators.

This is to ease the difficulties faced by the transportation industry, which has experienced a decline in sales due to the prolonged COVID-19 pandemic.

According to the province on the 16th, the emergency management stabilization fund support targets are small and medium-sized enterprises with business locations in Chungnam, including 434 companies such as passenger automobile transportation companies and general freight automobile transportation companies licensed by the Governor of Chungnam Province.

The support amount per company is 300 million KRW, with repayment conditions of a 2-year grace period followed by lump-sum repayment. At this time, the province plans to support 2% of the interest rate that the companies must bear.

Applications for support can be made through the corporate support divisions and regional economy divisions of the 15 cities and counties in Chungnam, or through the main office and southern branch of the Provincial Economic Promotion Agency.

For more detailed information regarding the emergency management stabilization fund support, please refer to the province’s website or contact the Small Business Division of the province, the economic divisions or corporate support divisions of the relevant cities and counties.

Earlier, since the COVID-19 outbreak, the province has supported loans to 31,463 companies with a total budget of 1.0966 trillion KRW as of the 14th to alleviate the management difficulties of local small and medium-sized enterprises and small business owners.

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