Seocho-gu Provides 500,000 KRW Support for Small Business Owners with Annual Sales Between 200 Million and 500 Million KRW

Support for Small Business Owners Excluded from Various Subsidy Programs: Online Applications Open Until September 11... On-Site Registration Begins from the 31st at Yangjae Transfer Parking Lot 4th Floor

[Asia Economy Reporter Jongil Park] Seocho-gu (Mayor Eunhee Jo) is launching the ‘Seocho-gu Small Business Support to Fill Blind Spots’ project, which provides 500,000 KRW to local small business owners who have been excluded from various types of support.

The ‘Seocho-gu Small Business Support to Fill Blind Spots’ project targets local small business owners who were excluded from the Seoul City Self-Employed Survival Fund and Seocho-gu’s new blind spot support fund, providing 500,000 KRW to cover fixed costs such as summer electricity bills, public utility fees, the four major insurance premiums, and rent.

The eligibility criteria require that applicants must have registered their business before September 1 of last year, have their business location in Seocho-gu, be self-employed with annual sales between 200 million KRW and less than 500 million KRW in 2019, and currently rent and operate an office (business place). Only businesses that are actively operating will be supported.

Additionally, to ensure fair distribution of benefits, overlapping receipt of the Seoul City Self-Employed Survival Fund and Seocho-gu’s new blind spot support fund is not allowed.

In particular, to eliminate the inconvenience of each small business owner having to submit proof of annual sales, the district office will, with the applicant’s consent, directly request verification from the relevant tax office through a simplified application process. This has been made possible thanks to the active cooperation of Banpo Tax Office and Seocho Tax Office.

Applications will be accepted online through the Seocho-gu Office website until September 11, and in-person applications will be accepted concurrently from August 31 to September 11 at Yangjae Transfer Parking Lot (4th floor). Detailed information is available on the Seocho-gu Office website, and inquiries can be made through the Seocho-gu call center.

Meanwhile, to overcome the difficult times caused by COVID-19 together, Seocho-gu also urgently allocated 2 billion KRW in June to provide the ‘Seocho-gu New Blind Spot Support Fund’ to new entrepreneurs who registered their businesses after September 2 of last year.

Seocho-gu Mayor Eunhee Jo stated, “By additionally supporting small business owners excluded from various survival funds within the district, we will implement more meticulous administration to ensure that no business is left out in the blind spots of support.”

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