Mokpo City Takes the Lead in Compensating Small Business Losses

Online Starts from the 27th

[Asia Economy Honam Reporting Headquarters Reporter Jeong Seunghyun] Mokpo City, Jeollanam-do announced on the 27th that it will open a dedicated window for ‘Small Business Loss Compensation’ to alleviate the economic difficulties of small business owners caused by COVID-19 quarantine measures.

The target for this loss compensation application is small business owners and small enterprises that suffered significant operational losses due to gathering bans and business hour restrictions during the third quarter of this year. Compensation will be customized in proportion to the loss amount of each individual business, with payments ranging from a minimum of 100,000 KRW to a maximum of 100 million KRW per quarter.

In the case of Mokpo City, it is estimated that a total of 7,000 locations will be eligible, including ▲entertainment and danran (social clubs) ▲hold'em poker rooms ▲colateks ▲restaurants and cafes ▲karaoke rooms ▲bathhouses ▲swimming pools ▲direct sales promotion centers.

Fast compensation is available from the 27th, allowing verification and application for compensation online with only identity verification and no separate document submission. For those who find online application difficult, they can visit the Mokpo City Hall Civil Service Office’s dedicated ‘Small Business Loss Compensation’ window starting from the 3rd of next month to apply in person.

A city official stated, “We will do our utmost to operate the dedicated window for small business loss compensation to resolve inconveniences faced by small business owners who have difficulties with online applications.”

For detailed information regarding loss compensation, inquiries can be made through the Loss Compensation Call Center or the Regional Small and Medium Venture Business Administration.

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