Jeongeup-si Promotes Various Projects Including Small Business Mutual Aid Enrollment

Published 04 Feb.2022 14:27(KST)

[Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Jeongeup City in Jeonbuk announced on the 4th that it will continue to promote various projects this year to strengthen the competitiveness and stabilize the management of small business owners who are struggling due to COVID-19.

The key projects include the ‘Making Our Neighborhood’s Business God Project,’ the ‘Special Guarantee Loan Support Project for Small Business Owners,’ the ‘Card Fee Support Project,’ and the ‘Small Business Owners Mutual Aid (Yellow Umbrella Mutual Aid) Subscription Support Project.’

The ‘Making Our Neighborhood’s Business God Project’ is a commercial district recovery project that uses consulting specialized institutions to improve sales and resolve management difficulties in alleyway commercial districts.

Through interview screening, strategic business education and 1:1 on-site coaching for business strategies will be conducted, and continuous promotional marketing will be planned to attract local floating populations.

The special guarantee support system is a system that issues a guarantee certificate on behalf of small business owners in the region who lack collateral and find it practically difficult to get loans from institutional banks, enabling them to obtain operating funds loans.

The loan limit is up to 30 million KRW per small business owner, and to alleviate the financial burden on small business owners, the city supports the portion of the loan interest rate exceeding 2.0% per annum.

The small business owners mutual aid subscription support project targets small business owners with annual sales of 300 million KRW or less, and when newly subscribing to the Yellow Umbrella Mutual Aid, it supports 10,000 KRW per month for each mutual aid premium payment, totaling 120,000 KRW per year (up to 12 times).

The city is also promoting a support project for purchasing quarantine supplies such as QR code verification terminals in response to the expansion of the COVID-19 and quarantine pass system.

The support targets about 1,500 establishments in 16 industries subject to mandatory quarantine pass application, including entertainment facilities, karaoke rooms, restaurants, and cafes, with up to 100,000 KRW support per business.

The card fee support project has secured a total budget of 990 million KRW and will be promoted year-round until the budget is exhausted. Last year, it supported 2,300 places with 680 million KRW.

The card fee support project targets local small business owners with sales of 300 million KRW or less in the previous year (2021), supporting up to 1 million KRW per business.

All industries except entertainment and gambling businesses can apply, and small business owners wishing to receive support can submit supporting documents by fax or visit to the town/myeon office or community service center in the business location.

A city official said, “We thank the local small business owners who are wisely overcoming difficulties amid the ongoing economic recession caused by COVID-19,” adding, “We will focus all our capabilities on continuous communication to empathize with and help overcome difficulties so that their efforts will not be in vain.”