Gangnam-gu, Naver, Shinbo Foundation, and Shinhan Bank Unite to Support Small Business Owners
10 Civil-Government-Public Regional Council Formed... Supporting Traditional Markets' 'Live Commerce' Operation and Facility Improvement Next Year -
[Asia Economy Reporter Park Jong-il] Gangnam-gu (District Mayor Jeong Soon-gyun) formed a 'Public-Private-Community Regional Council' on the 10th with six organizations including Naver, Credit Guarantee Foundation, Shinhan Bank, Gangnam-gu Chamber of Commerce, Korea Women Entrepreneurs Association, and Seoul Entrepreneurs Association to support small business owners struggling due to COVID-19 and revitalize the weakened local commercial district.
The 'Public-Private-Community Regional Council' will provide startup consulting and issue credit guarantees to small business owners lacking collateral, while supporting low-interest loans.
In particular, Gangnam-gu will provide administrative and financial support and establish an institutional foundation, Shinhan Bank will handle financial support such as developing customized loan products, and merchant organizations like the Gangnam-gu Chamber of Commerce will collect field opinions and relay them to the regional council for efficient implementation. The Credit Guarantee Foundation has been providing 1 million KRW each to 20 stores urgently needing facility improvements since the 15th of last month.
Additionally, the 'Traditional Market Live Commerce' operation, promoted by Gangnam-gu to help small business owners facing management difficulties find new sales channels, will be led by the regional council. The portal site 'Naver' is responsible for YouTube operation, SNS utilization, and internet broadcasting production training, the Credit Guarantee Foundation handles promotion, and merchant organizations such as the Entrepreneurs Association assist in discovering small business owners.
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Meanwhile, the district has led various support policies to ease the management burden of small business owners in the area, including providing interest-free loans for one year totaling 31.86 billion KRW to 236 companies in the district by September, and granting up to 4 million KRW in store reopening support funds to businesses damaged by the prolonged COVID-19 pandemic.
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