Jeongeup-si Opens Applications for 'Small Business Stability Support Fund' Starting from the 11th

Published 06 Mar.2024 11:07(KST)

Jeongeup City in Jeonbuk announced on the 6th that it will accept applications for the Small Business Stability Support Fund from the 11th to the 29th.

This is a campaign pledge of the 8th local government administration, established to help small business owners facing management difficulties due to economic recession, decreased sales, and rising labor costs.

Jeongeup City Hall. [Photo by Jeongeup City]

The support target is small business owners currently operating with their resident registration address and business location in Jeongeup City, and whose annual sales last year did not exceed 100 million KRW. If operating multiple business locations, support will be provided for only one business location.

However, small business owners with no sales last year, those who are temporarily closed or out of business as of the announcement date, non-profit businesses not aimed at profit, excluded industries such as pharmacies under small business policy funds, and industries designated by the city such as solar power generation and e-commerce are excluded from support.

Small business owners wishing to receive support can apply by visiting the town or township office or the local community service center where their business is located.

The support fund will be paid entirely in mobile Jeongeup Love Gift Certificates to revitalize the local economy.

The city will confirm eligibility requirements for applicants, finalize the recipients, and plans to disburse the support fund in May.

Mayor Lee Hak-su said, “We have prepared the support fund to stabilize small business owners who are struggling with economic recession and rising prices,” and added, “We will continue to develop policies that small business owners can feel and benefit from.”

Meanwhile, the city provided stability support funds to over 4,200 small business owners last year.