Dongjak-gu Supports Affordable Price Businesses... How?

From October to November, wrapping advertisements on 7 village buses to promote Good Price Businesses... Customized support within 500,000 KRW after demand survey for consumables for 72 Good Price Businesses... Applications for the 4th Special Loan for SME Development Fund open until the 8th, up to 30 million KRW per company

[Asia Economy Reporter Jongil Park] Dongjak-gu (Mayor Changwoo Lee) is stepping up support for Good Price Businesses to overcome the economic recession crisis caused by the prolonged COVID-19 pandemic.

Dongjak-gu-style Good Price Businesses are establishments certified by the district after enacting an ordinance last year?the first among Seoul’s autonomous districts?to support Good Price Businesses. Currently, 72 such businesses operate within the district.

The district will promote and provide supplies to Good Price Businesses that contribute to price stabilization by offering affordable prices and good service despite the economic crisis.

From October to November, for two months, seven Dongjak village buses (routes 08 and 13) will be wrapped on both exterior sides with advertisements promoting Dongjak-gu Good Price Businesses. This will be carried out as a non-face-to-face village bus advertisement in response to COVID-19, with promotion managed by a local social enterprise.

In October, the district will also support desired supplies up to 500,000 KRW per eligible business through the ‘Good Price Business Supplies Support Project.’

Businesses can apply for supplies tailored to their characteristics, such as ▲Food service industry (volume-based waste bags, rubber gloves, aprons, cutlery sets, etc.), ▲Beauty and hairdressing industry (towels, dyeing gloves, scissors, etc.), and ▲Laundry industry (laundry oil, hangers, plastic covers, etc.). The district will conduct a demand survey for desired supplies per business in October and deliver them individually.

Additionally, the district provides various incentives to Good Price Businesses, including ▲social insurance fee support and ▲regular disinfection and cleaning services.

In particular, from July to this month, 18 personal service businesses in food service, beauty and hairdressing, and laundry sectors requiring environmental improvements were selected and received subsidies of up to 2 million KRW for facility improvements.

Meanwhile, until the 8th, the district is accepting applications for the 4th round of special loans from the Small and Medium Business Development Fund for small and medium-sized enterprises and small business owners operating in Dongjak-gu for more than three months.

For facility improvements and business stabilization funds, businesses can choose repayment terms within five years with an annual interest rate of 1%, up to 30 million KRW per business. However, the program will end early if funds are exhausted.

This year, the special loans from the Small and Medium Business Development Fund have been expanded by 5 billion KRW due to COVID-19, operating at a total scale of 9.2 billion KRW, supporting 469 cases and approximately 7.167 billion KRW through the first three rounds.

Kim Jungwon, Director of the Economic Promotion Division, said, “We will discover and implement all possible local economic revitalization policies to support small business owners struggling due to the prolonged COVID-19 pandemic,” and added, “To prevent the spread of COVID-19, we ask everyone to thoroughly practice personal hygiene by refraining from unnecessary travel and small gatherings during this Chuseok holiday.”

Dongjak-gu Office Economic Promotion Division

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