Hoping to Support SMEs and Small Business Owners... Ulju-gun Provides 88 Billion Won in Business Stabilization Funds

Highest Price in Ulsan, Applications Start on the 14th and 18th Respectively

Ulsan Ulju-gun Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Ulju-gun, Ulsan City, is providing management stabilization funds to support local small and medium-sized enterprises (SMEs) and small business owners suffering from the prolonged impact of COVID-19 and to revitalize the weakened local economy.

The management stabilization funds amount to a total of 60 billion KRW in the first half of the year, with 50 billion KRW for SMEs and 10 billion KRW for small business owners. In the second half, 28 billion KRW will be provided, with 18 billion KRW for SMEs and 10 billion KRW for small business owners.

Applications are open to SMEs and small business owners with business locations in the region. SMEs can receive interest subsidies of 3% on loans up to 300 million KRW, while small business owners can receive interest subsidies of 2.5% on loans up to 60 million KRW for two years.

For SMEs, eligible sectors include manufacturing and manufacturing-related service industries. Small business owners in sectors such as finance, insurance, luxury, and entertainment, which are subject to guarantee restrictions, are excluded from support.

SME managers can apply from the 14th to the 23rd by visiting the Ulju-gun SME Management Stabilization Fund website or the Ulju-gun SME Management Support Center.

Applications for small business owner management stabilization funds will be accepted on a first-come, first-served basis from the 18th via the Ulsan Credit Guarantee Foundation website until funds are exhausted.

For more details, refer to the announcement on the Ulju-gun website or contact the Ulju-gun SME Management Support Center or the Ulsan Credit Guarantee Foundation for guidance.

The county stated that the scale of the 2022 Ulju-gun management stabilization fund loans is the largest in Ulsan City, totaling 88 billion KRW, with 68 billion KRW for SMEs and 20 billion KRW for small business owners.

A county official said, “We hope to be a reliable support for SMEs and small business owners whose livelihoods are threatened by COVID-19,” adding, “We will continue to discover support projects to resolve the management difficulties of local SMEs and small business owners and to overcome the local economic crisis.”

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