Chungnam to Support Up to 100 Million KRW Loan Interest per Company Before Lunar New Year Holiday

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province will provide a special management stabilization fund of 5 billion KRW to local small and medium-sized enterprises (SMEs) ahead of the Lunar New Year holiday.

The province announced on the 11th that it will accept applications for funding support from local SMEs from the 12th to the 16th.

The support will be up to 100 million KRW per company, with the province covering 2 percentage points of interest during the 2-year loan period.

The target companies are those with fewer than 10 employees that have received the province's policy fund, the general manufacturing management stabilization fund, and whose loan period agreed upon with financial institutions has not yet ended.

Conversely, companies that have not received the general manufacturing management stabilization fund are excluded from applying for the special Lunar New Year fund. If they wish to receive support, they must first obtain the general manufacturing management stabilization fund loan and then apply for the special Lunar New Year fund before the loan period ends.

Applications can be submitted online by accessing the SME Development Fund Support System operated by the Chungnam Economic Promotion Agency and registering as a member.

For more detailed information about the support, inquiries can be made through the provincial Corporate Support Division or the Chungnam Economic Promotion Agency.

A provincial official stated, “The special management stabilization fund is a measure to prepare for the increased financial demand of companies ahead of the Lunar New Year.” He added, “The province will strive to provide policy funds in a timely manner to help alleviate the management difficulties of local companies.”

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