Geumcheon-gu Extends 2nd Phase of Small Business Rebound Support Fund... 500,000 KRW Support for Businesses with Operating Restrictions

From January 10 to February 18, Visit District Office Economic Department...Up to 500,000 KRW per Business for Businesses Subject to Gathering Ban and Operation Restrictions

[Asia Economy Reporter Jongil Park] Geumcheon-gu (Mayor Yuseonghun) announced that it will resume the Small Business Rebound Support Fund (Geumcheon-gu Himnaeso) project, which was operated last year, starting from the 10th.

The Small Business Rebound Support Fund project is a program that reimburses Geumcheon-gu small business owners for expenses incurred from purchases made within the local area. Unlike most existing small business support funds that are used for rent or utility bills, this policy was established by Geumcheon-gu to stimulate cash flow in the market.

The target beneficiaries are businesses subject to gathering bans and business restrictions, with a maximum support of 500,000 KRW per business.

Applicants must have incurred expenses for food, supplies/consumables, or promotional costs such as leaflet production from September 27, 2021, with small business owners located within Geumcheon-gu. However, fixed costs such as labor costs are not eligible for support, and businesses that have already received support funds are excluded from applying.

Small business owners wishing to apply can visit the 11th floor Regional Economy Division of the district office with their business registration certificate, small business confirmation, VAT filing documents, expense proof documents, ID, and a copy of their bankbook from January 10 to February 18 to submit their application.

Application forms can be downloaded from the ‘Notices & Announcements’ section on the Geumcheon-gu Office website.

After review, the payment decision will be notified within a maximum of two weeks, and in case of disqualification, applicants can file an objection within seven days from the date of notification of exclusion.

Yuseonghun, Mayor of Geumcheon-gu, said, “We have decided to continue the Small Business Rebound Support Fund project this year as well, following last year, to support small business owners severely affected by COVID-19,” adding, “We hope many people, including those who missed the application and newly established small business owners, will benefit from this.”

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