Mokpo City Provides 500,000 Won Support Fund for Small Business Owners... 'Let's Overcome Together'

Applications Accepted at Dong Administrative Welfare Centers in Business Locations from the 22nd of This Month to the 22nd of Next Month

[Mokpo=Asia Economy Honam Reporting Headquarters Reporter Jeong Seunghyun] Jeonnam Mokpo City announced on the 21st that it will provide 500,000 won in daily recovery support funds for small business owners.

The city will accept applications at the local administrative welfare centers of business locations from the 22nd of this month to the 22nd of next month, following the approval of the second supplementary budget bill by the council, confirming the budget.

The payment targets are businesses located in Mokpo City that registered their business before February 28, 2022, are operating as of the application date, and have annual sales of 1 billion won or less in 2021, with regular employees classified as small business owners. In cases of joint representatives, the payment will be made to only one of the representatives.

▲Unregistered businesses ▲Gambling-related industries, professional occupations such as lawyers, accountants, hospitals, pharmacies, and financial insurance-related industries excluded from small business policy fund loans ▲Non-profit enterprises, organizations, corporations, and unincorporated associations are excluded from the support targets.

However, entertainment establishments such as pubs, clubs, nightclubs, emotional pubs, hunting bars, colatecs, and dance halls subject to administrative orders (gathering bans, business restrictions) are included in the support targets.

For more details, refer to the ‘Mokpo City Small Business Owner Daily Recovery Support Fund Payment Implementation Notice’ posted on the city’s website.

During the first week of application, a five-day rotation system based on the last digit of the business registration number will be implemented, and payments will be made sequentially within one week of application.

The city stated, “We hope the daily recovery support fund will help small business owners and self-employed people who have suffered for a long time, and we will do our best to ensure prompt payment.”

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