Daejeon City Opens Applications for 2nd Round of 'Small Business Daily Recovery' Support Fund

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City is accepting applications for the second round of support funds to help local small business owners recover their daily lives.

The city announced on the 16th that, following the completion of the first rapid payment of small business daily recovery funds, it will accept second-round online and in-person applications from the 17th of this month until the 31st of next month.

The first rapid payment targeted 1,661 businesses that complied with administrative orders prohibiting gatherings, such as entertainment facilities and karaoke rooms. Through the rapid payment, the city provided 2 million KRW per eligible business without a separate application process.

The upcoming second simple payment will target businesses that complied with business restriction administrative orders after July 7 and small businesses in general industries that experienced sales declines.

Businesses that complied with business (hours) restrictions will receive 1 million KRW per business, and small business owners in general industries with decreased sales will receive 500,000 KRW in daily recovery funds.

Applications for the second simple payment can be made online or in person. Required documents include the business registration certificate and a copy of the representative’s bankbook.

Notably, the city has included small business owners who have closed their businesses in the second simple payment target. This is intended to support the reestablishment of closed small businesses, targeting those who closed between July 7 and October 31.

Eligible applicants can apply for the support fund by submitting a closure certificate instead of a business registration certificate.

The city plans to provide 2 million KRW for closed small businesses in gathering-restricted industries, 1 million KRW for those in business-restricted industries, and 500,000 KRW for general industries with decreased sales.

Basically, the special daily recovery fund support is available when the following conditions are met: ▲ business location within Daejeon ▲ business registered and opened before September 30 of this year ▲ business operating (including those closed during the same period) between July 7 and October 31.

For those operating multiple businesses, payments will be made per business location with a registered business license.

However, businesses that violated gathering prohibition or business restriction measures, unregistered businesses without business registration, businesses that applied fraudulently or by other improper means, non-profit enterprises, organizations, corporations, and unincorporated associations are excluded from support.

For more detailed information, please refer to the announcement or contact the daily recovery fund call center.

Meanwhile, the city estimates that about 95,000 small business owners, including general industries with sales declines omitted from government loss compensation, will receive daily recovery funds totaling approximately 70 billion KRW.

Ko Hyun-duk, Director of the Job and Economy Bureau of the city, said, “To help small business owners recover their daily lives, we have expanded support beyond gathering-restricted and business-restricted industries to include general industries with sales declines. Along with the Ontong Daejeon consumption promotion project, we will strive to revitalize neighborhood commercial districts and support small business owners.”

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