Sejong Provides 55 Billion KRW in Funding to Support Small and Medium Enterprises

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City announced on the 6th that it will support 55 billion KRW worth of the ‘2021 Small and Medium Business Development Fund’ for local small and medium-sized enterprises (SMEs).

The support targets SMEs in manufacturing, knowledge service industries, etc., that have business locations in Sejong as of the application date, with a maximum support of 300 million to 2 billion KRW per company. The loan interest rates range from 1.46% to 2.44%.

The city allocated the support funds under the categories of startup funds 7 billion KRW, competitiveness enhancement funds 15 billion KRW, innovation funds 15 billion KRW, and corporate rehabilitation funds 1 billion KRW.

Additionally, 12 billion KRW of management stabilization funds will be provided to SMEs facing difficulties due to lack of funds, with an interest subsidy of 2 to 3 percentage points. An additional 5 billion KRW of emergency management stabilization funds has been allocated for companies affected by COVID-19.

In particular, from this year, companies that receive new loans under the management stabilization funds will be fully exempt from early repayment fees, and the entrusted institution for fund support operations has changed from Chungnam Economic Promotion Agency to Sejong Technopark Foundation.

Applications for the Small and Medium Business Development Fund will be accepted from the 18th and will be accepted year-round until the funds are exhausted.

For more details, please refer to the city hall website’s notices and announcements or the Sejong Technopark website.

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