Gyeonggi Shinbo to Implement 'Opportunity UP Special Guarantee' in Early October... 500 Billion KRW Scale

Si Seok-jung, Chairman of the Gyeonggi Credit Guarantee Foundation, visited Pyeongtaek Tongbok Market on the 26th to do Chuseok shopping and promoted the 'Opportunity UP Special Guarantee,' scheduled to be implemented in early October, to the merchants.

The Gyeonggi Credit Guarantee Foundation will fully implement the 'Opportunity UP Special Guarantee' starting early October, in line with Gyeonggi Province Governor Kim Dong-yeon's push for expansionary fiscal policy amid declining tax revenues.

The Opportunity UP Special Guarantee is a program where Gyeonggi Credit Guarantee Foundation provides long-term loans at low interest rates up to 50 million KRW per guaranteed company. The foundation expects this guarantee program to play a significant role in reducing the financial burden on small business owners who suffer from chronic funding difficulties.

Gyeonggi Province supports the loan interest by subsidizing 2 percentage points from the loan interest rate, while the foundation provides long-term loan guarantees (up to 3 years grace period and 5 years installment repayment, totaling 8 years).

The Opportunity UP Special Guarantee can be applied for through the mobile credit guarantee app ‘Easy One (이지원)’, which offers Gyeonggi Credit Guarantee Foundation’s three no-visit, no-document, no-wait-time guarantee services, as well as at the foundation’s branches.

On the 26th, the foundation held a ‘Chuseok Shopping Event and Gyeonggi Opportunity UP Special Guarantee Street Campaign for Revitalizing Traditional Markets’ at Tongbok Market in Pyeongtaek City, attended by Chairman Si Seok-jung and others.

This event was organized to encourage residents to use traditional markets ahead of the Chuseok peak season and to promote the Opportunity UP Special Guarantee, funded by 95.7 billion KRW from the supplementary budget raised through strong expenditure restructuring by Gyeonggi Province to stabilize the livelihood economy.

Governor Kim Dong-yeon of Gyeonggi Province previously made the decision to pursue an expansionary supplementary budget despite expected tax revenue shortfalls to actively respond to the difficult economic situation. As a result, a total of 500 billion KRW in Opportunity UP Special Guarantees can be supported to ensure financial stability for small business owners facing management difficulties and to facilitate a smooth economic crisis transition.

Si Seok-jung, Chairman of the Gyeonggi Credit Guarantee Foundation, said, "Seeing merchants quietly working on the ground despite the difficult economic conditions, I feel a heavy sense of responsibility," and emphasized, "As the only policy financial institution in Gyeonggi Province, the foundation will do its utmost to provide prompt and proactive guarantee support so that small business owners can overcome today’s crisis and move forward to tomorrow."

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