Seocho-gu Provides 500,000 Won Support to Closed Small Business Owners

50,000 KRW Support for Small Businesses Under Closure or Operation Restrictions Since March 22 Last Year... Online Applications Available on Seocho-gu Website Until July 30... On-site Applications Start from July 19

[Asia Economy Reporter Jongil Park] Seocho-gu District Office (Mayor Eunhee Jo) is launching the ‘Support Project for Closed Small Business Owners,’ which provides 500,000 KRW to small business owners who have closed their businesses due to a sharp decline in sales caused by COVID-19 and compliance with social distancing administrative orders.

As the prolonged COVID-19 pandemic has extended business restrictions for small business owners, their sales have sharply declined and financial difficulties have continued. Until now, support projects for small business owners were limited to businesses that were 'operating,' leaving those who had closed their businesses neglected. To address this blind spot, the 「Ordinance on Support for Small Business Owners in Seocho-gu, Seoul」 was amended, and the support project for closed small business owners was initiated.

The eligibility criteria are ▲small business owners based on sales and number of regular employees ▲small business owners subject to gathering bans or business restrictions (including businesses located in gathering banned or restricted establishments) ▲businesses that closed between March 22, 2020 (when enhanced social distancing was implemented) and June 7, 2021 (announcement date). However, cases violating local government administrative orders are excluded.

To provide broad support, the district allows applicants who have closed multiple businesses to receive support for all of them, and in the case of joint representatives, all representatives will receive support (except for direct lineal ascendants or descendants). Additionally, recipients of the government’s re-challenge encouragement grant can also receive overlapping benefits.

Online applications for ‘Seocho-gu Closed Small Business Owner Support’ can be submitted through the Seocho-gu website until July 30, and in-person applications can be made at the District Office’s Job and Economy Division from July 19 to July 30. In-person applications will be conducted by prior reservation to maintain social distancing and prevent confusion.

Detailed information is available on the ‘Seocho-gu District Office website,’ and inquiries can be made to the Job and Economy Division.

Seocho-gu Mayor Eunhee Jo stated, “I hope this support fund will provide some comfort to small business owners who have closed their shops and are facing difficulties,” and added, “We will actively prepare support measures to help them recover as soon as possible.”

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