Incheon City Provides 500,000 KRW per Person in Living Stability Funds for Taxi and Charter Bus Drivers

Additional 30 Billion KRW Support for Small Business Management Stabilization Fund

Incheon City Hall

[Asia Economy Reporter Park Hyesook] Incheon City will provide emergency living stabilization funds to taxi and charter bus drivers.

The city announced on the 3rd that it will provide 500,000 KRW per person in emergency living stabilization funds to taxi drivers who are highly exposed to the risk of COVID-19 as public transportation most closely interacting with citizens, and to charter bus drivers whose income has sharply declined.

The support targets transportation workers employed as of May 31 this year, excluding individual taxi transport business operators receiving the government’s COVID-19 emergency employment stabilization subsidy and unpaid leave workers who received Incheon City’s regional employment response special support fund.

The emergency living stabilization funds can be applied for from the 6th to the 31st by submitting applications to the transportation worker’s affiliated company and the Incheon Individual Taxi Transport Business Association. After Incheon City’s eligibility review, payments will be made in August.

The city plans to provide this support fund as Incheon e-eum consumption coupons, a form of local currency, to revitalize the local economy stagnated by the prolonged COVID-19 pandemic and to promote livelihood stability.

Meanwhile, the city will additionally support 30 billion KRW in management stabilization funds for local small business owners facing economic difficulties.

NongHyup Bank has made a special contribution of 2 billion KRW to support up to 20 million KRW for all industries including food service, wholesale and retail, and service industries, and the city will compensate 1.5% of the loan interest.

Incheon City has supported a total of 150 billion KRW in management stabilization funds over five rounds in the first half of this year for small business owners affected by COVID-19.

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