<중기부 차관 "손실보상금, 빠르면 신청일 이틀 내로 지급받는다">Deputy Minister of the Ministry of SMEs and Startups: "Compensation Payments Can Be Received Within Two Days of Application at the Earliest"

[Asia Economy Reporter Kim Bo-kyung] Kang Seong-cheon, Vice Minister of the Ministry of SMEs and Startups, stated on the 8th regarding the small business loss compensation system, "For small business owners included in the pre-established database (DB), compensation will be paid within two days from the application date."

Kang, who serves as the chairman of the Loss Compensation Deliberation Committee, said in his opening remarks at the committee meeting held in Sejong City on the same day, "As soon as the Ministry of SMEs and Startups ministerial notification process is completed, we plan to begin accepting loss compensation applications as quickly as possible."

The Loss Compensation Deliberation Committee is a statutory deliberation committee that specifically decides on matters related to the standards and payment of loss compensation according to the Small Business Act. This day marked the first meeting to review the detailed procedures and standards of the loss compensation system.

Kang explained, "The legalization of loss compensation was completed on July 7 this year," adding, "After legalization, we established a foundation to pay loss compensation quickly and reasonably through budget preparation, revision of enforcement ordinances, and the construction of an integrated management system."

On the 6th, the streets of Myeongdong, Seoul, appeared lifeless due to the prolonged impact of COVID-19. Prime Minister Kim Boo-kyum stated at the Cabinet meeting that day regarding the compensation system for small business owners affected by COVID-19 quarantine measures, "We will ensure that small business owners can receive compensation by the end of this month at the latest." However, he added, "The compensation targets are losses directly caused by quarantine measures such as gathering bans and business hour restrictions enacted after the law was promulgated on July 7," and noted, "Unfortunately, losses before that date and indirect losses are not covered, so it may fall short of the expectations of small business owners." / Photo by Moon Ho-nam munonam@

He continued, "Through intergovernmental and private TF meetings and pre-workshops of the Loss Compensation Deliberation Committee, we have discussed various issues in depth," and "In September alone, we held a total of seven meetings with more than 20 small business associations and groups to reflect the voices of small business owners in the system."

Finally, Vice Minister Kang said, "As a result, today's agenda was submitted to the deliberation committee, and the matters finally decided through deliberation will be notified by the Minister of SMEs and Startups," adding, "I hope that the compensation standards and procedures that allow for quick and reasonable payment of compensation to small business owners will be deliberated and resolved."

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