Gangnam-gu to Provide 1 Million Won in Business Stability Support Fund for Small Business Owners Affected by COVID-19

Online or 5-Day Rotation Visit Registration from February 15 to March 19 ... For Businesses Opened Before November 30 Last Year with Annual Sales Under 500 Million Won

[Asia Economy Reporter Jongil Park] Gangnam-gu (District Mayor Jeong Soon-gyun) has decided to provide a business stability support fund of 1 million KRW per business to small business owners in the area affected by the prolonged COVID-19 pandemic, and will accept applications from the 15th to March 19th.

The support targets small business owners whose main business location is in Gangnam-gu, who opened their business before November 30th of last year, have annual sales under 500 million KRW, and have fewer than 5 regular employees (fewer than 10 employees in manufacturing, mining, construction, and transportation industries).

Applicants must be actively operating as of the application date, and businesses in restricted industries for the Small and Medium Business Development Fund loan support, such as entertainment bars and real estate rental businesses, are excluded.

Applications can be submitted online or in person.

Online applications are available from the 15th, and applicants need only fill out personal information on the Gangnam-gu Office website and attach a business registration certificate along with documents proving sales and the number of regular employees.

In-person applications are accepted from March 2nd. Applicants should bring an ID card, a copy of their bankbook, business registration certificate, and documents proving sales and the number of regular employees, and submit their application at the Academy Training Hall on the basement first floor of the District Office’s second annex, following a 5-day rotation system based on the last digit of the representative’s birth year.

For more details, please refer to the Gangnam-gu Office website or contact the Gangnam-gu Business Stability Support Call Center.

Meanwhile, last month, the district has been making efforts to prepare various policies, including accepting emergency applications for 500,000 KRW public utility fee support for small business owners in the area struggling due to COVID-19.

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