Gangnam-gu Provides 1.4 Million KRW Cash Rent Support to Small Business Owners in Crisis
For Businesses Established Before June 30 with Annual Sales Under 500 Million KRW... Email or 5-Day Rotation Visit Registration from October 5 to 30
[Asia Economy Reporter Jongil Park] Gangnam-gu (District Mayor Jeong Soon-gyun) will provide 1.4 million KRW in cash per business location by the 30th to small business owners in the district facing closure due to the impact of COVID-19.
This small business rent support is a measure to ease the worries of small business owners who have seen a sharp decline in sales due to the spread of COVID-19 but still have to pay rent every month.
The support targets small business owners who started their business in the area before June 30 and have annual sales under 500 million KRW.
Applications have been accepted since the 5th, and applicants can download the application form and personal information consent form from the Gangnam-gu Office website, then submit them along with the lease contract and rent payment proof via email (gangnam00@gangnam.go.kr) or visit in person following a 5-day rotation system based on the last digit of their birthdate. However, recipients of Seoul City self-employed survival funds, businesses that are effectively closed or suspended, and industries restricted from receiving small business development fund loans are excluded. Additionally, businesses that have received Gangnam-gu closure support funds will receive only the difference.
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Since the beginning of this year through September, the district has provided interest-free loans for one year totaling 31.86 billion KRW to 236 small and medium-sized enterprises and small business owners through the Small Business Development Fund. Furthermore, the free food waste collection system, currently implemented for 9,800 small restaurants, has been extended until the end of the year. Gangnam-gu is leading various support policies to alleviate the management burdens of small business owners struggling due to the prolonged COVID-19 pandemic.
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