Jeonnam Province to Distribute Small Business Daily Recovery Support Funds Within This Year.

97,000 Applicants... Total Scale of 29 Billion KRW with 300,000 KRW per Person

[Muan=Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] Jeonnam Province announced on the 30th that it plans to provide the Small Business Daily Recovery Support Fund within this year.

As a result of closing the application for the ‘Small Business Daily Recovery Support Fund,’ 97,000 people, accounting for 94% of the eligible businesses, applied. A total of 29 billion KRW will be supported, with 300,000 KRW per person.

The province started accepting applications from November 23 and paid 27 billion KRW by December 27. The remaining 2 billion KRW will be paid by the 31st after verification processes such as account errors and duplicate applicants.

This year, due to fewer natural disasters thanks to disaster prevention activities against typhoons, the reserve budget surplus was used to prepare the Small Business Daily Recovery Support Fund.

Cash of 300,000 KRW per business will be provided to small business owners who have suffered direct or indirect damage from COVID-19 to help them recover their daily lives as soon as possible.

Although the amount is insufficient compared to the business losses of small business owners, it can be used for public utility fees such as electricity and telecommunications, and is expected to serve as a catalyst to aid recovery.

The province extended the application deadline from the original 23rd to the 28th to allow more small business owners to receive support.

A Jeonnam Province official said, “We appreciate the efforts of small business owners who endured difficult conditions such as business losses due to COVID-19,” and added, “We will prepare detailed support measures so that small business owners in the province can quickly recover sales and normalize management.”

Meanwhile, Jeonnam Province provided a total of 23.6 billion KRW in livelihood support funds to about 40,000 small business owners, including bathhouses and street vendors, in four rounds from September last year to September this year.

Next year, through support such as 1 million KRW in quarantine support funds, 100,000 KRW for purchasing quarantine pass items, expansion of the minimum amount for loss compensation, and strengthened step-by-step support for closure, recovery, startup, and growth, the province plans to provide stronger protection for small business owners affected by COVID-19.

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