4th Disaster Relief Fund: 2.5 Trillion Won Distributed Over Two Days

[Asia Economy Reporter Hyungsoo Park] More than 1.37 million people have received over 2.5 trillion KRW in payments just two days after the application for the 4th disaster relief fund, the Small Business Support Fund Plus, opened.

According to the Ministry of SMEs and Startups, by 5 PM on the second day of applications, the 30th, 765,000 people had applied. Payments totaling 1.104 trillion KRW were made to 588,000 people. Over the two days since the previous day, 1.376 million people received 2.5411 trillion KRW.

Considering that the first round of rapid payments targeted 2.5 million people, about 55% of the eligible recipients have received support funds.

Businesses subject to closure orders received between 4 million and 5 million KRW each, while businesses with operational restrictions received 3 million KRW each.

For businesses in management crisis sectors whose average sales last year decreased by more than 20% compared to the previous year, payments ranged from 2 million to 3 million KRW, and general businesses with sales decreases received 1 million KRW each.

Applications are paid out in three installments. Applications submitted by noon are paid starting from 2 PM, those submitted between noon and 6 PM are paid starting from 8 PM, and applications submitted between 6 PM and midnight are paid starting from 3 AM on the 31st. From the 31st onward, applications can be submitted regardless of whether the business registration number ends in an odd or even digit.

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