You Can Receive the '3rd Disaster Relief Fund' Without Applying Even If Your Business Is Subject to Gathering Restrictions or Prohibited Industries

General Businesses Need to Confirm Sales Decline... Payment of 1 Million Won

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Small business owners whose operations have been banned or restricted due to the novel coronavirus infection (COVID-19) can receive damage support funds without a separate application.

On the 30th, Ando-geol, Director of the Budget Office at the Ministry of Economy and Finance, appeared on MBC Radio's 'Kim Jong-bae's Focus' and responded "Yes" when asked by the host whether small business owners in industries subject to gathering bans or restrictions would receive support even if they do not apply themselves.

Since local governments hold data on businesses subject to gathering bans or restrictions due to the third wave of COVID-19, recipients can receive support without a separate application.

However, additional verification is required for general industries with decreased sales. Director An said, "For general industries, it is necessary to confirm the fact that sales have decreased. However, instead of these individuals providing proof, the government will use various tax information and administrative data it holds to pre-select eligible recipients and send them a notification letter. Then, those recipients can apply online and receive the funds immediately."

On the 29th, the government announced a customized damage relief plan to provide 2 million won to small business owners with restricted operations and 3 million won to those in banned industries.

Meanwhile, it is estimated that about 2.8 million small business owners with annual sales of 400 million won or less, whose sales have decreased compared to last year, will receive 1 million won in damage support funds.

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