Na Kyung-won Announces First Pledge: "Up to 50 Million Won, 1% Ultra-Low Interest Loans for Small Business Owners"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hye-min] Former People Power Party lawmaker Na Kyung-won announced that she will support ultra-low interest long-term loans for small business owners and self-employed individuals as her first pledge for the Seoul mayoral by-election.

On the same day, former lawmaker Na held a press conference at the Yeouido party office in Seoul and revealed plans to establish the "Emergency Livelihood Rescue Fund (Sumtongteuim Loan)."

The fund, with a maximum scale of 6 trillion won, aims to provide up to 50 million won per person at an annual interest rate of 1% to a total of 1.2 million people, including small business owners, self-employed individuals, special-type workers, freelancers, and artists. The loan period is a total of 8 years, with a 3-year grace period and 5 years for repayment.

The Seoul Metropolitan Government will support the credit guarantee foundation's guarantee fees and loan interest rates. Former lawmaker Na explained that receiving a 50 million won loan effectively results in a subsidy payment of 8.5 million won per person.

The fund's resources will be secured by restructuring expenditures on unnecessary projects such as the Gwanghwamun Square construction, freezing Seoul's non-rigid budget, and utilizing increased revenue and net surplus funds. The net surplus funds refer to the final remaining money after returning the balance of expenditures and central government subsidies from the collected taxes.

Comparing it to the government's emergency disaster relief fund, former lawmaker Na said, "The central government's disaster fund is consumptive, so its effect is one-time, and there are many complaints about the small absolute amount of support, making it less effective." She explained, "The Sumtongteuim Loan is an ultra-low interest long-term loan intended to help people endure until overcoming the crisis."

Former lawmaker Na also promised to thoroughly detect unfair trade practices and abuse of dominant positions by delivery platform operators, promote competition to lower delivery fees, and eradicate delivery-related power harassment.

Additionally, she stated that she would support the digitalization of traditional markets and small businesses centered offline and support online and contactless sales through mobile marketing.

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