Jungjingong Actively Supports Policy Funds for SMEs Facing Raw Material Supply Difficulties

Added as Eligible for Emergency Management Stabilization Fund Support

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 4th that it is providing emergency management stabilization funds to stabilize raw material supply for small and medium enterprises (SMEs) suffering difficulties in product production due to the recent surge in raw material prices.

The support target is manufacturing SMEs with plans to purchase raw materials, and to enhance the effectiveness of policy support, funds are provided as direct loans for raw materials that require actual purchase within six months from the application date.

SBC added companies facing difficulties in raw material supply as support targets to alleviate the management burden of SMEs hit by global supply chain instability caused by the prolonged COVID-19 pandemic and the Ukraine crisis.

The policy fund loan period is a 2-year grace period followed by 3 years of installment repayment, with a loan limit of up to 1 billion KRW per company. Previously, SBC introduced and operates systems such as non-face-to-face consultations and electronic contracts for rapid support.

Kim Hak-do, Chairman of SBC, said, "We understand that the management difficulties of small and medium ventures are worsening day by day amid the recent uncertain domestic and international economic environment," adding, "We will actively support companies to stably secure raw materials and overcome difficulties through policy fund support."

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