Hamyang-gun Implements Government 'Small Business Loss Compensation Fund' for Small Business Owners

Applications Open from the 30th for Small Business Owners and Small Enterprises with Annual Sales Under 5 Billion KRW

Hamyang County Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hamyang-gun announced that the Small Enterprise and Market Service under the Ministry of SMEs and Startups will accept applications for the ‘Loss Compensation Fund,’ which provides up to 10 million KRW to support small business owners and small enterprises affected by COVID-19 quarantine measures.

Applications will be accepted online from the 30th until July 29.

The support targets small business owners and small enterprises that opened before December 15, 2021, were operating until December 31 of the same year, and experienced a decrease in sales, as well as medium-sized enterprises with annual sales exceeding 1 billion KRW but not exceeding 5 billion KRW.

However, even if the sales decrease criteria are not met, businesses that received the first and second rounds of quarantine support funds and complied with quarantine measures such as operating hour restrictions after August 16, 2020, will receive a basic amount of 6 million KRW.

Eligibility can be checked online on the ‘Small Business Loss Compensation Fund’ website, and those eligible for ‘Quick Payment’ will receive a text message and can apply online.

If you did not receive a text message or are not listed as eligible in the online check, you can apply as a ‘Verification Payment’ recipient from June 13 onwards at the same site.

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