Seoul City Expands Support Scope for Tourism Industry Survival Funds... Additional Applications Accepted Until Next Month 1

[Asia Economy Reporter Lim Cheol-young] The Seoul Metropolitan Government announced on the 17th that it has completed the first round of applications for the ‘Seoul Tourism Industry Emergency Survival Fund,’ which supports the recovery of the tourism industry that suffered its worst year due to COVID-19, and will conduct additional recruitment targeting 690 companies until the 1st of next month.

Seoul is promoting support of 1 million KRW per company for 1,500 companies through the ‘Seoul Tourism Industry Emergency Survival Fund’ to assist the tourism industry, which is on the brink of industrial ecosystem collapse due to COVID-19.

In this additional recruitment, the scope of support has been expanded to include companies that were unable to apply during the first round, allowing broad support for the struggling tourism industry. Exhibition business operators under the Exhibition Industry Development Act (exhibition organizers, exhibition design and installation businesses, exhibition service businesses), which were not included among MICE sectors, as well as tourist restaurants and duty-free shops under the Tourism Promotion Act, have been newly added to the support targets.

The eligibility criteria require companies to be small businesses with sales below a certain scale, not recipients of the government’s third disaster relief fund (Small Business Support Fund), and currently operating. Since sales and employment conditions vary by industry, applicants must check the announced eligibility requirements.

To prevent the spread of COVID-19, applications are accepted only online through the Seoul Tourism Foundation website. After verifying eligibility, the support funds will be paid sequentially starting from April 5.

Joo Yong-tae, Director of the Seoul Tourism and Sports Bureau, said, “It is urgent to provide broad and substantial survival fund support to the tourism industry so that Seoul tourism, which has faced its worst period due to COVID-19, can overcome the crisis and move into the recovery phase. Seoul will do its best to ensure that this emergency survival fund is provided without any blind spots. We are also considering additional support measures for the industry. We will continue efforts to expand policies and content to prepare for the activation of Seoul tourism in the post-COVID new normal era.”

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