Kim In-ho Seoul Metropolitan Council Urges Immediate Implementation of Additional Loan Support for Local Small Business Owners Amid COVID-19 Resurgence

Starting with Jongno-gu, the gathering place for the 8.15 Gwanghwamun protest, and Seongbuk-gu, where Sarang Jeil Church is located, Seoul City is urged to devise measures to immediately implement additional ultra-low interest loans up to 10 million won and emergency employment support funds beyond existing loan support.

[Asia Economy Reporter Park Jong-il] Kim In-ho, Chairman of the Seoul Metropolitan Council, stated, "Due to the recent spread of COVID-19 in the metropolitan area, small business owners and self-employed individuals are experiencing significant business losses," emphasizing the urgent need to prepare practical support measures for them.

Chairman Kim acknowledged that considering the current Seoul city finances, it may be difficult to immediately implement follow-up support measures targeting all small business owners located in Seoul. However, he urged Seoul city to devise plans to promptly execute ultra-low interest loans up to 10 million won and emergency employment support funds in addition to the existing loan support, starting with Jongno-gu, the gathering site of the August 15 Gwanghwamun protest, and Seongbuk-gu, where Sarang Jeil Church is located.

Chairman Kim said, "Since the outbreak of COVID-19, Seoul has always taken a proactive stance in implementing relief measures for small business owners, including survival funds for the self-employed and various financial and tax supports, setting an example nationwide," adding, "In the current situation where COVID-19 is rapidly spreading again, active and concrete support measures must be prepared before the local economy completely collapses."

He also stated, "Small business owners in Jongno-gu and Seongbuk-gu, which can be considered major areas of this COVID-19 resurgence, are experiencing severe difficulties," and requested Seoul city to "first start with small business owners in Jongno-gu and Seongbuk-gu by promptly implementing additional loans with a limit of 10 million won at low interest rates in the 1% range and emergency employment support funds."

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