[Chuseok Livelihood Measures] Supporting SMEs and Small Business Owners... Providing 7.2 Trillion Won in Liquidity

Creating a Nationwide Atmosphere for Consumption Promotion
Expansion of Onnuri Gift Certificate Discount Limits

The government is promoting measures such as supplying liquidity worth 7.2 trillion won, creating a nationwide consumption promotion atmosphere, and expanding the discount limit for Onnuri gift certificates to support small and medium-sized enterprises (SMEs) and small business owners ahead of Chuseok.

On the 28th, citizens visiting Gyeongdong Market in Dongdaemun-gu, Seoul, are purchasing fruits. Photo by Jin-Hyung Kang aymsdream@

The Ministry of SMEs and Startups announced on the 31st that it included the "Support Plan for SMEs and Small Business Owners for the Chuseok Holiday" as a key task in the "Chuseok Livelihood Stabilization Measures" announced at the 19th Emergency Economic and Livelihood Meeting.

First, to alleviate financial difficulties for SMEs and small business owners before and after the holiday, a total liquidity of 7.2 trillion won will be supplied between next month and October. This includes loans, guarantees, and accounts receivable insurance. It was confirmed to include 3.6 trillion won from Korea Credit Guarantee Fund accounts receivable insurance, 1.7 trillion won from regional credit guarantee foundations, 700 billion won from the Small and Medium Business Corporation, 300 billion won from the Small Enterprise and Market Service, and 900 billion won from the Korea Technology Finance Corporation.

To support traditional markets and local commercial districts, the discount limit for Onnuri gift certificates will be temporarily expanded. For paper certificates, the limit per person will increase from the existing 1 million won to 1.3 million won, and for card and mobile types, from 1.5 million won to 1.8 million won, increasing the limit by 300,000 won per person.

To revitalize the regional economy, a nationwide consumption promotion atmosphere will be created. The "Hwanggeumnyeok Donghaeng Festival," which started the day before, will continue until the 27th of next month. Major domestic and international distribution channels such as online malls, department stores, and traditional markets are participating to sell over 24,000 products from SMEs and small business owners. During this period, a total of 90 events, including regional festivals and traditional market and shopping district events, will be held across the country.

Lee Young, Minister of SMEs and Startups, said, "We have considered and included policy tasks for SMEs and small business owners who are struggling despite difficult economic conditions," and added, "We hope that this measure will help SMEs and small business owners have a warm Chuseok holiday and that the livelihood economy will regain vitality."

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