Bucheon-si 3rd Small Business Disaster Relief Fund... 1 Million Won for Restricted Business Sectors
50,000 KRW Fine for 22 Business Types with Operating Restrictions
[Asia Economy Reporter Park Hyesook] Bucheon City in Gyeonggi Province announced on the 10th that it will provide Bucheon-style Support Fund (3rd round) to small business owners in industries subject to gathering bans and restrictions due to administrative measures such as social distancing to prevent the spread of COVID-19.
The support amount is 1 million KRW for 11 industries under gathering bans and 500,000 KRW for 22 industries under business restrictions.
The city is implementing three rounds of support measures for small business owners, following the Small Business Emergency Disaster Relief Fund in the first half of last year, Bucheon New Hope Fund in the second half, and this year's Small Business 'Bucheon-style Support Fund'.
The support targets are small business owners who, as of January 1 this year, operate businesses subject to gathering bans or business restrictions, have registered their business in Bucheon City as of the announcement date (February 9), and are currently operating. However, businesses that have been administratively penalized for violating social distancing rules and those that are closed or suspended are excluded.
The application period is from the 15th of this month to the 14th of next month. On-site applications will be accepted from the 2nd to the 12th of next month at the administrative welfare centers located in the business locations. Online applications can be submitted through the application page opened on the Bucheon City website.
Application forms can be downloaded from the Bucheon City website or obtained at the local administrative welfare centers.
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Jang Deokcheon, Mayor of Bucheon City, said, "Small business owners are the foundation and hope of the local economy," adding, "I hope that this 3rd Bucheon-style Support Fund will provide some strength to small business owners struggling due to the spread of COVID-19 and help revive the stagnant local economy."
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