Jungjingong Receives 'Highest Grade' for Four Consecutive Years in Ministry of Economy and Finance Lottery Fund Project Performance Evaluation

No.1 in Policy Fund Loan Projects and Statutory Distribution Projects for Startups

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 31st that its policy fund loan project for startup companies was evaluated as the top-ranked project among all statutory allocation projects in the '2020 Lottery Fund Project Performance Evaluation,' achieving the highest grade of 'Excellent' for the fourth consecutive year. The Ministry of Strategy and Finance's Lottery Commission evaluates statutory allocation projects and public interest projects that use lottery funds annually to manage the resources raised from lottery operations transparently and efficiently, and allocates budgets based on the results. This year, 92 projects were evaluated, and only five projects received the 'Excellent' rating.

According to this evaluation result, SBC will receive a budget of 74.7 billion KRW from the lottery fund in 2022 to support interest subsidies for startup company support loans. This amount is an increase of 11 billion KRW compared to 63.7 billion KRW this year. SBC utilizes the lottery funds allocated by the Lottery Commission as resources for policy fund loans, providing long-term and low-interest facility and operating funds to small and medium enterprises with less than seven years of operation.

Last year, SBC significantly expanded policy fund consultation opportunities and support budgets to overcome the COVID-19 crisis, enhancing financial accessibility for early-stage startup companies lacking collateral by focusing on credit loans through technology and business feasibility evaluations. Additionally, SBC was highly evaluated for expanding funding supply to social economy enterprises to revitalize the social economy, a government policy direction, and for concentrating support on innovative growth sector startups, contributing to job creation and startup activation.

Chairman Kim Hak-do stated, "SBC is proactively responding to the post-COVID era and is promoting the transition to non-face-to-face policy fund support methods for swift and safe assistance. We will continue to do our best to support the innovative growth and job creation of small and medium ventures."

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