Jongno-gu Urgently Allocates 32.5 Billion Won to Support COVID-19 Affected Groups

Seoul City and 25 Districts Collaborate... Support Targets Vulnerable Residents and Affected Industries, Jongno-gu Partners with Woori Bank, Shinhan Bank, Hana Bank to Provide Up to 20 Million KRW Interest-Free Loans for Small Businesses for One Year

[Asia Economy Reporter Park Jong-il] Jongno-gu (District Mayor Kim Young-jong) is launching disaster relief fund support totaling 32.5 billion KRW, including 20 billion KRW in low-interest loans for small business owners, to help industries and vulnerable residents suffering from the prolonged COVID-19 pandemic and to accelerate the recovery of the local economy.

This disaster relief fund support is being promoted in cooperation with Seoul City and its 25 autonomous districts.

The targets are small business owners, vulnerable residents, and industries that have suffered actual damage.

It consists of 14 projects across three major sectors, and it is expected that approximately 11,800 businesses and facilities, including those in industries subject to COVID-19 gathering bans and restrictions, as well as unemployed youth and other affected groups, will benefit evenly.

Jongno-gu will provide 100% district funding for the following support projects: 500,000 KRW per business for closed businesses in gathering-ban and restricted industries; 500,000 KRW per unemployed youth for employment support; up to 1 million KRW for elderly care facilities; 1 million KRW per childcare center; 1 million KRW per community child center; 10 million KRW per village bus company; and 500,000 KRW worth of quarantine supplies per religious facility.

The Jongno-type public job project will also be expanded to actively support residents' livelihoods.

Cooperation systems will be established with Woori Bank, Shinhan Bank, and Hana Bank. Jongno-gu will contribute 800 million KRW, Woori Bank 300 million KRW, Shinhan Bank 300 million KRW, and Hana Bank 200 million KRW, totaling 1.6 billion KRW to the Seoul Guarantee Foundation to secure 20 billion KRW, which will be lent interest-free for one year (with Jongno-gu covering 500 million KRW in interest for the first year), providing up to 20 million KRW per business.

In addition, Seoul City's livelihood measures will be promoted together, including up to 1.5 million KRW per gathering-ban or restricted business; 100,000 KRW per low-income vulnerable individual for living expenses; 500,000 KRW per transportation worker such as corporate taxi and village bus drivers; 1 million KRW per artist with household income below 120% of the median in the culture and arts sector; and 2 million KRW per small business in tourism and MICE sectors.

Meanwhile, Jongno-gu has secured the budget as the 1st supplementary budget for 2021 was passed on the 22nd at the 301st Jongno-gu Council extraordinary session. A reception desk for each department has been set up, and disaster relief funds are scheduled to be distributed by May.

District Mayor Kim Young-jong stated, “Through the COVID-19 livelihood support measures jointly promoted by Seoul City and Jongno-gu, I sincerely hope that the difficulties faced daily by small business owners and residents will be alleviated even a little,” and added, “We will closely cooperate with the central government and Seoul City to recover the local economy and restore daily life to what it was before COVID-19.”

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