"Chicken Restaurant Owners Not Using Baemin Can Also Receive 50% Support on Loan Interest"

Woowa Brothers Supports COVID-19 Policy Loan Interest
Raises 5 Billion Won for Win-Win Cooperation Fund... Applications Open Until the 7th of Next Month

[Asia Economy Reporter Kim Bo-kyung] Small business owners in the food service industry who are not listed on Baedal Minjok (Baemin) can also receive up to 50% support on interest for COVID-19 policy fund loans.

Woowa Brothers, the operator of Baemin, announced on the 24th that to ease the burden on domestic small food service businesses due to COVID-19, they have expanded the scope of interest support on COVID-19 policy fund loans to include restaurants not using Baemin.

Since February last year, Woowa Brothers has been supporting 50% of the interest on COVID-19 policy fund loans for Baemin-listed merchants, and from this year, this support has been extended to all food service business owners.

Small food service business owners who have received COVID-19 policy fund loans can receive support for 50% of the interest paid for 10 months after loan approval. The interest support fund is provided through a 5 billion KRW fund established by Woowa Brothers last year in agreement with the Korea Foodservice Industry Association and the Korea Federation of Small and Medium Business.

Any business registered under food service, general food service, rest food service, or franchise chain food service on their business registration certificate can apply for loan interest support through the Baemin CEO Plaza website (ceo.baemin.com).

Applicants must submit their business registration certificate and an interest payment certificate specifying the COVID-19 related policy fund. The application period is until March 7.

Interest support is only available for COVID-19 related small business policy fund loans taken out last year, and if there are multiple loans, support is provided only for the one with the highest interest rate. The support funds will be deposited into the personal account entered by the business owner by next month.

Kwon Yong-gyu, Head of Value Management at Woowa Brothers, said, "We hope this policy fund loan interest support will provide some help to many self-employed food service business owners struggling due to COVID-19," adding, "We will continue to strive to provide practical assistance through various support measures."

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