Jungjingong Gwangju Regional Headquarters Provides Additional 12.2 Billion KRW in SME Policy Funds

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] The Small and Medium Business Corporation (SBC) is taking steps to resolve difficulties faced by manufacturing SMEs struggling with production due to the sharp rise in raw material prices.

Following the passage of the second supplementary budget bill in the National Assembly plenary session on July 2, SBC secured an additional 300 billion KRW in policy funds, including 50 billion KRW for youth-exclusive startup funds.

As a result, the total budget for SME policy funds this year has expanded from 5.61 trillion KRW to 5.91 trillion KRW.

First, to promote startups, SBC has additionally secured 300 billion KRW in startup foundation support funds targeting SMEs with less than seven years of business experience or individuals starting an SME.

Of this, approximately 4.1% of the total secured budget, amounting to 12.2 billion KRW, has been allocated to the Gwangju Regional Headquarters.

Furthermore, to help alleviate difficulties faced by manufacturing SMEs due to the recent surge in raw material prices, the scope of policy fund support has been expanded.

Manufacturing SMEs with raw material purchase plans within six months have been added as eligible recipients for emergency management stabilization funds and innovation growth support funds, enabling them to apply for policy funds. Raw material purchase plans are verified through purchase orders or quotations.

Park Hong-joo, head of the SBC Gwangju Regional Headquarters, stated, "We will continue to closely monitor market conditions to ensure that no blind spots occur in policy support, and we will make every effort to secure budgets and provide support."

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