"Apply for Loss Compensation Fund by the 29th"
Payment from May 30... Approximately 3.63 million companies to receive 22 trillion won
[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Lee Young, hereinafter referred to as the Ministry) announced that the application period for the loss compensation fund will end on the 29th. Online applications for the loss compensation fund are available until midnight on that day, and on-site applications through the Small Enterprise and Market Service (SEMAS) regional centers can be made by visiting by 6 PM after making a prior reservation.
The objection procedure for businesses that received a notice of non-payment of the loss compensation fund is planned to begin in August after the application period ends. Lee Jang-hoon, head of the Small Business Management Support Division at the Ministry, said, "We urge small business owners who are deemed eligible for the loss compensation fund to apply before the deadline, and we will make every effort to ensure the fair execution of the verification payment and objection procedures."
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The loss compensation fund payments began on May 30, and as of the 25th of this month, approximately 3.63 million companies have received a total of 22 trillion won.
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