Daejeon City Opens Applications for Small Business Crisis Recovery Support Fund

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 31st that it will accept applications for the "Daejeon-type Small Business Crisis Overcome Support Fund" from next month 1st to May 13th.

The support fund amounts to 70 billion KRW, with resources prepared through cooperation between the city and five autonomous districts. The support fund has been provided since March 10th, with 2 million KRW for businesses subject to gathering bans and 1 million KRW for businesses with operating hour restrictions. As of now, a total of 19.762 billion KRW has been paid, benefiting 17,888 businesses.

Applicants for the support fund are divided into simple payment and verification payment categories.

Simple payment applies to businesses that were included in the city's daily recovery fund and the government's previously provided Support Fund Plus, Hope Recovery Fund, and 1st Quarantine Support Fund.

However, the crisis overcome support fund payment requirements must be met, and if so, the support fund can be received by submitting a business registration certificate and a copy of the bankbook without additional documentation.

The support fund will be disbursed sequentially after verifying accounts in the order of application receipt, typically within 5 to 10 days.

Verification payment is for businesses omitted from the simple payment category and requires submission of additional documents such as business registration certificates by industry and proof documents for sales decline comparison to confirm facility type and sales decrease.

At this time, general businesses with sales decline must submit ▲ Value-added tax taxable standard certificate ▲ Tax-exempt business income certificate ▲ Sales proof documents such as cash receipt, card sales details, and electronic tax invoice summary from the National Tax Service Hometax system.

The sales decline judgment criteria by opening period for general businesses is based on comparing annual or semi-annual sales after 2019, and applications can be made if sales have decreased in at least one period.

Since the Daejeon Job and Economy Promotion Agency must verify all documents for each application in the verification payment process, the payment period may be relatively longer than for simple payments.

Meanwhile, the eligibility criteria for the Daejeon-type Small Business Crisis Overcome Support Fund are ▲ business location within Daejeon area ▲ business registration opening date before February 20, 2022 ▲ continuous operation from December 18, 2021 to February 20, 2022. If multiple businesses are operated, support funds will be provided for each registered business location.

Applications can be made online or by visiting the Daejeon Job and Economy Promotion Agency. Until the 10th of next month, applications will be accepted based on the applicant's birth year using an odd-even system, and from the 10th onward, applications can be submitted without odd-even restrictions.

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