Ulsan Small Business Owners Receive 25 Billion KRW in Second Round of Business Stabilization Funds

From 9 AM on the 12th, first-come, first-served, up to 60 million won

Ulsan City is providing 25 billion KRW in management stabilization funds for small business owners.

On the 10th, Ulsan City announced that it will support the '2nd Small Business Management Stabilization Fund' for small business owners struggling due to the economic downturn.

The support targets small business owners in the Ulsan area, including manufacturing, construction, and transportation companies with fewer than 10 regular employees, as well as wholesale and retail businesses and restaurants with fewer than 5 employees. It applies to small business owners who did not receive the 1st round of management stabilization funds.

The support amount is up to 60 million KRW per business, with repayment options including a lump sum after a 2-year grace period, installment payments over 2 years after a 1-year grace period, or installment payments over 2 years after a 2-year grace period. Ulsan City will subsidize part of the loan interest, which ranges from 1.2% to 2.5%.

For small business owners lacking collateral, the program is implemented with full collateral guarantees from the Ulsan Credit Guarantee Foundation.

Applications will be accepted on a first-come, first-served basis starting at 9 a.m. on Wednesday, July 12, through the Ulsan Credit Guarantee Foundation website. Detailed information regarding the application process for the management stabilization funds will be announced on the websites of Ulsan City and the Ulsan Credit Guarantee Foundation.

The total amount of management stabilization funds supplied by Ulsan City this year is 55 billion KRW, with 30 billion KRW in the 1st round and 25 billion KRW in the 2nd round. Districts and counties also plan to supply the 2nd round of management stabilization funds around September.

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