Ministry of SMEs and Startups Establishes Online Integrated Management System for Loss Compensation

Minister Kwon Chil-seung Holds Meeting to Check Loss Compensation Execution Preparation at Sojin-gong
"Establishing an Execution System Based on Organic Linkage with the Field is Important"

Minister Kwon Chil-seung of the Ministry of SMEs and Startups.
[Photo by Yonhap News]

[Asia Economy Reporter Kim Jong-hwa] The Ministry of SMEs and Startups is establishing an online integrated management system that allows small business owners and small enterprises to quickly and easily apply for and receive compensation payments. Additionally, a dedicated loss compensation desk will be set up to provide easy guidance on the loss compensation system and facilitate compensation applications.

On the 12th, Minister Kwon Chil-seung presided over an expanded executive meeting and a joint loss compensation inspection meeting for small business owners held by the Ministry of SMEs and Startups and related organizations at the Small Enterprise and Market Service. He announced an execution plan to ensure the smooth implementation of the loss compensation system.

The Ministry of SMEs and Startups plans to first build an 'online integrated management system' that compiles all administrative data necessary for calculating compensation, enabling small business owners to apply for and receive compensation as quickly and conveniently as possible.

In particular, the ministry will promote 'rapid compensation' by proactively utilizing data from local governments and the National Tax Service to pre-calculate compensation amounts and expedite payments. This will eliminate the document verification burden for applicants such as small business owners and enable rapid payment within two days after application, significantly enhancing convenience for small business owners.

A dedicated loss compensation desk will also be established to allow small business owners and others to easily receive guidance on the system and apply for compensation. By mid-October, about 300 dedicated loss compensation desks will be set up nationwide at city, county, and district offices, regional offices of the Ministry of SMEs and Startups, and regional centers of the Small Enterprise and Market Service. To support this, a regional loss compensation task force (TF) will be formed and operated, led by 13 regional heads of the Ministry of SMEs and Startups, with participation from local governments and the Small Enterprise and Market Service.

Along with the loss compensation call center (1533-3300), staffed by professional counselors and operating since the 8th, various channels such as an automated response system (ARS) and chat consultations will be used to provide information related to loss compensation.

Starting with this meeting, the Ministry of SMEs and Startups plans to continuously monitor field conditions and meticulously prepare to ensure that small business owners can receive compensation payments without inconvenience.

Minister Kwon emphasized, "The small business loss compensation system is significant in that it provides a predictable compensation system for small business owners who complied with business suspension and operating hour restriction measures," adding, "For the loss compensation system prepared so far to function properly, it is important to establish an execution system based on organic linkage with the field."

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