Gyeongbuk Province Supports Store Rent for 500 Young Small Business Owners

[Asia Economy Yeongnam Reporting Headquarters Reporter Jucheol In] Gyeongsangbuk-do announced on the 29th that it will implement a store rent support project to help young small business owners struggling due to the novel coronavirus infection (COVID-19).

About 500 young (aged 19 to 39) small business owners in the province will be selected and paid up to 3 million KRW within the range of store rent they bore annually in 2020.

Applicants must meet requirements such as having an annual sales amount of 30 million KRW or less in 2020, and a total household income based on health insurance premium payment in January 2021 that is 100% or less of the median income standard.

The support quota will be distributed and selected by the 23 cities and counties in the province.

The city and county departments will verify documents and select small business owners who fully meet the eligibility criteria in order of priority.

Families with three or more children will be given the highest priority, followed by low-income stores with lower annual sales in 2020.

From the 5th to the 9th of next month, applicants can check the project announcement posted on the Gyeongbuk Economic Promotion Agency website and submit the application form and required documents via email to the project manager.

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