Gwangjin-gu, First in Seoul to Provide 500,000 KRW Support to Closed Small Business Owners

Support of 500,000 KRW per Business for Small Business Owners Subject to Closure or Restrictions Due to COVID-19

[Asia Economy Reporter Jongil Park] Gwangjin-gu (Mayor Kim Seon-gap) is the first autonomous district in Seoul to provide crisis recovery disaster relief funds for small business owners who have suffered significant damage due to the prolonged COVID-19 pandemic.

The support targets small business owners with annual sales under 5 billion KRW and fewer than 5 regular employees, who have closed their businesses due to administrative orders under strengthened social distancing measures, including businesses subject to closure or operational restrictions.

The closure period is from March 22, last year, when the Central Disaster and Safety Countermeasures Headquarters and local governments strengthened social distancing, until April 8 of this year, and the business must have operated for at least 90 days before closure.

The online application period is from April 9 to August 15, and applicants can enter their information on a separate application site prepared on the Gwangjin-gu Office website.

In-person applications will be accepted starting May 10, with reception handled by the relevant departments according to business type.

Required documents include a certificate of business closure, proof of sales, confirmation of the number of regular employees, and for joint representatives, a family relation certificate, etc. Each business will receive 500,000 KRW in support.

After screening, if deemed eligible, the payment will be made within 10 days from the application date.

Kim Seon-gap, Mayor of Gwangjin-gu, said, “Along with the government’s 4th disaster relief fund, we aim to provide additional crisis recovery disaster relief funds that will practically help residents, offering some support to small business owners facing economic difficulties due to the prolonged COVID-19 pandemic.”

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