Application for Advance Payment of Additional Loss Compensation for Q1 Starts from the 28th

5-Day Rotation System Applied Based on the Last Digit of Business Registration Numbers for the First 5 Days

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Kwon Chil-seung, hereinafter referred to as the Ministry) and the Small Enterprise and Market Service (Chairman Jo Bong-hwan, hereinafter referred to as SEMAS) announced that they will accept applications for the '2022 Q1 Additional Loss Compensation Advance Payment' starting from the 28th.

This advance payment reflects the supplementary budget passed by the National Assembly on the 21st of this month and targets 280,000 businesses that were excluded from the '2021 Q4 and 2022 Q1 Loss Compensation Advance Payment' conducted from January 19 to February 9, including those subject to facility and personnel restriction measures. However, since the main payment for the 2021 Q4 loss compensation will begin on March 3, this time, 2.5 million KRW corresponding to the first quarter of 2022 will be paid.

The advance payment application can be made from 9 a.m. on the 28th through '손실보상선지급.kr' regardless of holidays or weekends. To distribute simultaneous access, a five-day staggered system based on the last digit of the business registration number will be implemented for the first five days, after which applications can be submitted regardless of the number.

During the staggered system period, applications can be submitted daily from 9 a.m. to midnight, and from the 5th of next month, when the staggered system is lifted, applications will be accepted 24 hours from 9 a.m. The application deadline will be before the main payment for the 2022 Q1 loss compensation, and detailed schedules will be announced later through '손실보상선지급.kr'. Once confirmed as an eligible recipient for this advance payment after applying, SEMAS will guide the contract method via text message, and upon completion of the contract, 2.5 million KRW will be received within one business day.

Kang Sung-chun, Vice Minister of the Ministry, said, "Through special weekend payments and other efforts during the advance payment conducted from January 19 to February 9, we were able to pay 2.1 trillion KRW to 410,000 businesses, accounting for 75% of the total 550,000 businesses." He added, "We will take full responsibility to ensure that applicants receive payments as quickly as possible this time as well."

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