Ministry of SMEs and Startups "Saehimang Fund Progressing Smoothly... 777.1 Billion KRW Rapidly Distributed"
As of the 25th, rapid payments made to 720,000 people
30.2% of the 2.57 trillion won support fund
[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 25th that 77.71 billion KRW in support funds have been paid to 720,000 small business owners among the rapid payment recipients of the New Hope Fund for Small Business Owners.
The Ministry sent text message notifications to 2.41 million rapid payment recipients of the New Hope Fund for Small Business Owners on the 23rd and 24th. Small business owners with even-numbered business registration numbers, totaling 720,000 (30% of the 2.41 million rapid payment recipients), applied for the support funds online starting from the 24th. As of the 25th, 77.71 billion KRW (30.2% of the 2.57 trillion KRW rapid payment target) has been disbursed to them.
Online applications for odd-numbered business registration numbers, which started at midnight on the 25th, and applications submitted on the 26th and 27th regardless of odd or even business registration numbers, will have their support funds paid on the 28th. Since it takes one day from application to payment, small business owners who apply by the 28th are expected to receive the funds by the 29th, the day before the Chuseok holiday.
The Ministry of SMEs and Startups is pushing forward with rapid payment procedures to ensure that as many small business owners as possible receive the New Hope Fund before Chuseok. According to the Ministry, the online application process applying the odd-even system based on the last digit of the business registration number is proceeding smoothly. Applications via online will continue during the Chuseok holiday period.
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Lee Euncheong, head of the Small Business Policy Division at the Ministry, said, "For small business owners who missed the first payment, we plan to provide rapid support as soon as administrative information is secured through local governments after Chuseok," adding, "We will separately announce detailed schedules and methods next month."
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