Gwanak-gu Accelerates Livelihood Economy Recovery... Early Support for SME Development Fund Loans in First Half of 2025

Early Implementation of 2025 SME Development Fund Loans Scheduled for January Next Year... Overcoming Economic Recession Due to Emergency Situation... Up to 100 Million KRW for SMEs and 50 Million KRW for Small Business Owners at 1.5% Low Interest Rate
Available to SMEs and Small Business Owners Registered in Gwanak-gu for Over 6 Months... Applications Accepted from December 26 Until Funds Are Exhausted

Park Jun-hee, Mayor of Gwanak-gu, Visiting Winter Sinsa Market

Gwanak-gu (Mayor Park Jun-hee) will expand early support for the ‘2025 First Half Small and Medium Enterprise Development Fund Loans’ starting from the 26th to help quickly revitalize the local economy.

Originally, the loan application recruitment for the first half of the year was scheduled for January, but the district plans to implement it about a month earlier.

This decision was made by the district to provide emergency business stabilization funds to small and medium enterprises (SMEs) and small business owners facing management difficulties due to the ongoing unstable domestic situation and the resulting domestic demand recession.

The loan support scale for the first half of 2025 is 3.5 billion KRW, and the district plans to execute most of the funds early within the first half of 2025.

The support targets are SMEs and small business owners who have been registered as business operators in Gwanak-gu for more than six months as of the loan application date and have real estate or credit collateral capability.

Loans can be applied for working capital and facility funds. SMEs can apply for up to 100 million KRW, and small business owners can apply for up to 50 million KRW, with repayment over 3 years in equal installments after a 2-year grace period.

Companies and small business owners wishing to apply for loans should receive loan consultation and collateral evaluation at Woori Bank Gwanak-gu Office Branch, then submit documents such as ▲loan application form ▲business plan ▲copy of business registration certificate. However, applicants for credit collateral loans may undergo an additional collateral evaluation process through the Seoul Credit Guarantee Foundation Gwanak Branch.

For detailed information on the ‘2025 First Half Gwanak-gu Small and Medium Enterprise Development Fund Loan Support,’ please check the district office website (News & Notices → Announcements) or contact the Gwanak-gu Office Regional Commercial Activation Division.

The district first established the Small and Medium Enterprise Development Fund in 1993 and has supported a total of 52.2 billion KRW in loans to 756 companies by the end of this year.

This year, it supported a total of 4 billion KRW in loans to 95 SMEs and small business owners in the region, contributing to the stability of the local commercial sector. In 2025, the district plans to maintain a low interest rate of 1.5% and expand the loan scale to a total of 5 billion KRW.

Mayor Park Jun-hee said, “With the unstable domestic and international situation and the sluggish economy, stabilizing people’s livelihoods is more important than anything else,” adding, “We will swiftly execute next year’s project budget, including loan support, to focus all administrative efforts on recovering the local economy.”

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