Gwangju Buk-gu Expands Small Business Credit Card Fee Support Program

On the 16th, Buk-gu, Gwangju Metropolitan City announced that it will expand the 'Small Business Card Fee Support Project' starting in August to promote the management stability of small business owners struggling due to the economic downturn.

From December last year to July this year, Buk-gu allocated a budget of about 400 million KRW to support card sales commission fees for approximately 2,500 tenant small business owners in Gwangju with annual sales of 100 million KRW or less based on 2021 standards. This was the first such initiative in Gwangju, and it confirmed the direct and indirect economic ripple effects of the project, such as alleviating the burden of small card payment fees for micro small business owners.

Accordingly, Buk-gu plans to use an additional budget of about 400 million KRW secured this year to expand the project, broadening the scope of small business owners, who are the core axis of the local economy, eligible for card fee support, thereby accelerating the recovery of the livelihood economy in the second half of the year.

The additional beneficiaries of this project will be tenant small business owners located in Buk-gu with annual sales of 100 million KRW or less in 2022. They will receive support for fees equivalent to 0.5% of their 2022 card sales, up to a maximum of 300,000 KRW.

Small business owners wishing to apply should prepare related documents such as a business registration certificate and lease contract, and visit the Buk-gu Office Small Business Comprehensive Information Center, the Economic Field Support Group Small Business Support Division, or the nearest Dong Administrative Welfare Center to apply.

A Buk-gu official stated, "A preemptive attack for the rebound of the local economy is the establishment of a tight safety net for the livelihood maintenance of small business owners." He added, "We will continue to make every effort to discover policies and secure budgets to lay the foundation for a win-win local economy together with small business owners."

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