Small Business Support Fund Disburses 2.96 Trillion Won to 2.09 Million People in Two Days

1.01 Million Applications on the 11th, 1.08 Million on the 12th
Applications Accepted Without Odd-Even System from the 13th

On the first day of application and payment for the third disaster relief fund (Support Fund) for small business owners and vulnerable employment groups affected by the third wave of the novel coronavirus infection (COVID-19) on the 11th, citizens are receiving related consultations at the Seoul Jungbu Center of the Small Enterprise and Market Service. Photo by Mo Honam munonam@

[Asia Economy Reporter Kim Heeyoon] It has been confirmed that approximately 3 trillion won in support funds to help small business owners affected by the novel coronavirus infection (COVID-19) were paid to 2.09 million people over two days.

The Ministry of SMEs and Startups announced on the 13th at 8 a.m. that, based on the payment status, 2.09 million out of 2.76 million first-phase rapid payment recipients applied during the first two days, resulting in a cumulative application rate of 76%. This is 13 percentage points higher than the 63% payment rate over two days for last year's second support fund, the Sae Hope Fund.

On the second day of applications, the 12th, the Ministry sent application guidance texts to 1.33 million people with even-numbered business registration numbers, and 1.08 million applied online that day. The number of applicants exceeded one million for two consecutive days.

The support fund was paid to 1.01 million people amounting to 1.43 trillion won on the first day, followed by 1.08 million people receiving 1.53 trillion won on the second day. The Ministry plans to continue the same-day payment system, where applications made in the morning are paid in the afternoon, in cooperation with banks throughout this week.

From the 13th, applications can be made online regardless of the odd-even application system. Rapid payments for outdoor winter sports facilities and lodging facilities that were prohibited from operating during the year-end and New Year holidays, businesses subject to gathering bans or operating restrictions added by local governments, and small business owners who opened last year and did not receive the Sae Hope Fund will begin on the 25th.

The support fund will be paid as 1 million won each to 636,000 general businesses, 2 million won each to 320,000 businesses under operating restrictions, and 3 million won each to 52,000 businesses under gathering bans.

Lee Euncheong, head of the Small Business Policy Division at the Ministry of SMEs and Startups, said, "From the 13th onward, the odd-even business registration number system will not be applied, so applicants can access the support fund website, which operates 24 hours a day, at any time to apply."

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