Gyeongsan-si, Gyeongbuk, Accepting Applications for Small Business Loss Compensation for Q4 Last Year!

For Small Businesses Suffering Operational Losses Due to Government Quarantine Measures

Gyeongsan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Gyeongsan City, Gyeongbuk, is accepting applications for loss compensation payments for small businesses.

The city will provide loss compensation payments to small businesses that suffered operational losses due to government quarantine measures from October 1 to December 31 of last year.

The eligible industries include entertainment and karaoke bars, restaurants and cafes, singing practice rooms, bathhouses, indoor sports facilities, PC rooms, lodging facilities, general academies, and reading rooms.

The loss compensation rate has been increased from the previous 80% to 90% compared to the third quarter of last year to practically compensate small business owners for their damages.

Additionally, the minimum amount has been raised from 100,000 won to 500,000 won, and payments will be made quarterly up to a maximum of 100 million won.

Online applications have been available since the 3rd on the loss compensation website, and in-person applications can be submitted until the 23rd.

For more details, guidance is available through the Small Business Loss Compensation Call Center, Daegu Gyeongbuk Small and Medium Venture Business Administration, and dedicated loss compensation service desks.

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