“Miryang City Small Business Owners Must Feel Supported” ... ‘New Start Fund Debt Adjustment Support’
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[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Wook] Miryang City in Gyeongnam is establishing and implementing tangible measures for self-employed individuals who have been cornered due to the impact of COVID-19.
On the 12th, Miryang City announced that it will promote a customized debt adjustment program (New Start Fund) for self-employed and small business owners through a business agreement with the Korea Asset Management Corporation Gyeongnam Regional Headquarters.
The support targets are individual business owners or small business owners affected by COVID-19, specifically ‘non-performing borrowers’ who have been in long-term arrears for more than 90 days, and ‘borrowers at risk of becoming non-performing’ who are likely to fall into long-term arrears in the near future.
Applications through the online platform proceed in the order of identity verification, eligibility confirmation for debt adjustment, and debt adjustment application. Self-employed and small business owners who wish to apply via the online platform should prepare the necessary information for identity verification, eligibility confirmation, and application before accessing the platform.
In the case of Miryang City, detailed telephone consultations and application guidance can be obtained through the Korea Asset Management Corporation Gyeongnam Regional Headquarters Counseling Center and the Changwon Credit Recovery Committee.
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A city official stated, “We hope that the New Start Fund project, designed to help small business owners and self-employed individuals who suffered unavoidable damage during the COVID-19 recovery process, will strengthen their self-sustainability. We will do our best to promote and guide so that the benefits of this project reach small business owners in Miryang City.”
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