[Breaking News] Small Business Owners Severely Affected by 'Level 4 Social Distancing' to Receive Compensation Under Support Law
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[Asia Economy Reporter Chunhee Lee] On the 11th, the Ministry of SMEs and Startups reported the 'Follow-up Measures for Social Distancing Level 4 in the Metropolitan Area' to compensate small business owners for operational losses caused by the escalation to social distancing level 4 at the Central Disaster and Safety Countermeasures Headquarters meeting held that day.
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This measure follows the amendment to the 'Act on the Protection and Support of Small Businesses,' which passed the National Assembly plenary session on the 1st and was promulgated on the 7th. The law includes provisions to compensate small business owners for operational losses incurred due to government measures for COVID-19 prevention and control.
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