Minister Oh Young-joo Inspects Execution Site on First Day of 'Time4' Emergency Fund Disbursement

SBC Launches Emergency Management Stabilization Fund Applications

Oh Young-joo, Minister of the Ministry of SMEs and Startups, visited the Seoul Jungbu Center of the Small Enterprise and Market Service (SEMAS) on the 9th to inspect the emergency management stabilization fund disbursement site for companies affected by unpaid settlements from WEMAKEPRICE and TMON (TiMeP).

The Ministry of SMEs and Startups has prepared an emergency management stabilization fund worth 200 billion KRW (30 billion KRW from the Korea SMEs and Startups Agency and 170 billion KRW from SEMAS) to support small and medium enterprises and small business owners affected by TiMeP’s unpaid settlements, and started accepting applications from 9 a.m. on the same day.

Minister Oh Young-joo of the Ministry of SMEs and Startups is delivering opening remarks at the "Emergency On-site Inspection Meeting for the Implementation of Comprehensive Measures for Small Business Owners" held on the 11th at the Seoul Western Center of the Small Enterprise and Market Service in Yeongdeungpo-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

Among these, SEMAS’s emergency management stabilization fund (for temporary business difficulties) supports up to 150 million KRW within the amount of unpaid settlements from TiMeP. The interest rate is 3.51% (variable), and the period is 5 years (including a 2-year grace period). It will be provided as a direct loan to reduce the burden of guarantee fees, and SEMAS will handle all procedures from application and reception to deposit to provide prompt support.

Minister Oh visited the SEMAS regional center, which receives applications and disburses funds on the front lines from the first day of disbursement, emphasizing the importance of the site and encouraging the staff.

Minister Oh said, "Rapid liquidity supply is the most important for small business owners suffering from financial difficulties due to unpaid sales proceeds," and urged, "We must provide detailed guidance so that small business owners do not have difficulties applying, and disburse funds quickly so they can receive them promptly."

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