Miryang City Selected as an Outstanding Local Government for Small Business Support in 2024

8 Billion Won Contributed to Small Business Credit Guarantee Fund, 133% Increase from Previous Year

Miryang City announced on the 5th that it has been selected as an outstanding local government for contributing to the 2024 Small Business Credit Guarantee Fund by the Gyeongnam Credit Guarantee Foundation and received a plaque of appreciation.

The Gyeongnam Credit Guarantee Foundation is a public guarantee institution that supports the local economy by guaranteeing the debts of small and medium-sized enterprises and small business owners in the province. Since last year, it has been selecting cities and counties with excellent contribution records to present plaques of appreciation.

Miryang City Hall.

This year, Miryang City was selected and is expected to receive support such as priority allocation in the Small Business Management Consulting Project, which is an in-house program of the Gyeongnam Credit Guarantee Foundation.

Since signing a contribution agreement with the Gyeongnam Credit Guarantee Foundation in 2020, the city has contributed 3.4 billion KRW over the past five years to support the finances of local small business owners. This year, it contributed 800 million KRW, a 133% increase compared to last year’s 600 million KRW. Based on this, the Credit Guarantee Foundation will be able to provide a total of 10.2 billion KRW in loan guarantee support for small business owners.

Mayor Ahn Byunggu said, "In order to stabilize the management of small business owners who are struggling with financial operations and to implement policies that provide practical help, we have expanded the credit guarantee fund for small businesses compared to last year," and added, "We will continue to do our best to support local small business owners by consistently discovering customized support projects as well as providing financial assistance."

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