Jinju City, Support for Small Business Development Funds in the Second Half of the Year

120 Billion KRW Out of 33 Billion KRW in the Second Half... Consultation Reservations Accepted from August 2
Loans Within 50 Million KRW, 2.5% Interest for 2 Years & 1 Year Credit Guarantee Fee Support

Jinju City Hall exterior view.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province announced on the 28th that it will support the first round of small business development funds in the second half of the year with a scale of 12 billion KRW to support small business owners.

The support targets small business owners with workplaces in the jurisdiction: manufacturing, construction, transportation, and mining businesses with fewer than 10 employees, and wholesale, retail, food service, and service industries with fewer than 5 regular employees.

Applications for support will be accepted from 9 a.m. on August 2 through consultation reservations on the Gyeongnam Credit Guarantee Foundation website. Depending on credit rating, loans of up to 50 million KRW can be obtained, and interest of 2.5% per annum will be supported for two years on the loan amount. Additionally, the credit guarantee issuance fee of about 1% per annum, which must be paid when issuing a guarantee certificate from the Gyeongnam Credit Guarantee Foundation, will also be supported for one year.

Jinju Mayor Cho Gyu-il said, “I hope this will help stabilize the management and relieve the financial burden of small business owners who are struggling due to the prolonged COVID-19 pandemic,” and added, “We will continue to do our best to prepare measures that can provide practical help to small business owners.”

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