Kakao Pay Launches 'Jahwal Enterprise Support Project'

[Asia Economy Reporter Eunju Lee] Kakao Pay announced on the 7th that it will launch the ‘Self-Support Enterprise Support Project’ to promote the economic independence of self-support enterprises for small business owners in celebration of Small Business Owners' Day (11/5).

This project is the first initiative carried out with the ‘Self-Reliance Preparation Youth and Small Business Support Fund’ donated by Kakao Pay to the Beautiful Foundation. Together with the Beautiful Foundation, Kakao Pay will provide operational expense support such as rent and labor costs, as well as offline financial education programs including tax accounting and voice phishing prevention, targeting 35 self-support enterprises in the Seoul area over a total of eight months from this month until June next year.

‘Self-support enterprises’ are companies established and operated jointly by two or more low-income individuals based on skills acquired through self-support work projects at local self-support centers. Through this project, Kakao Pay will support Seoul-area certified self-support enterprises with fewer than 10 employees that ▲ do not receive government subsidies (such as temporary labor costs), ▲ are in financial difficulty and require urgent support, and ▲ can participate in financial education programs. However, single-person enterprises are excluded.

Kakao Pay plans to actively support small business self-support enterprises so that they can establish themselves as a virtuous cycle role that not only achieves economic independence but also provides services to vulnerable groups in the local community and creates jobs. Recruitment for participants in the ‘Self-Support Enterprise Support Project’ will begin on the 21st through member organizations of associations within the Seoul area. After recruiting participants, full support and operation of financial education programs will start in January next year.

Kakao Pay stated, “We are very honored to join the Beautiful Foundation in supporting small business self-support enterprises facing difficulties on Small Business Owners' Day,” and added, “As a lifestyle financial platform, we will continue to actively engage in win-win activities to communicate with financially vulnerable groups and small business owners in the local community and promote sustainable growth together.”

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