Ulsan City to Provide a Total of 220 Billion KRW in '2025 Small and Medium Enterprise Development Funds'

Provision of Timely Funds... Support to Revitalize Local Economies

Expansion of Business Sectors and Establishment of Safety-Based Guarantees for Industrial Accident Prevention

Ulsan City is promoting the ‘2025 Small and Medium Enterprise (SME) Development Fund Support Plan’ with a total scale of 220 billion KRW to stabilize SME management and revitalize the local economy.

Through this, the city plans to provide early funding in the first half of the year to SMEs facing various management difficulties and to fully establish a detailed financial safety net targeting industries with relatively high financial difficulties due to high interest rates.

According to the support plan, the number of supported industries in the construction sector, which is experiencing management difficulties due to rising raw material costs and client business closures, will be expanded from the existing 10 types to 16 types.

To alleviate the operational burden on the corporate taxi industry, which is financially vulnerable due to increased fuel costs caused by rising international oil prices and decreased passengers due to the economic downturn, taxi transportation has been newly selected as a supported industry.

In addition, with the full enforcement of the ‘Serious Accidents Punishment Act,’ an annual 5 billion KRW scale safety-based guarantee will be newly established in collaboration with the Korea Credit Guarantee Fund to support SMEs in preventing industrial accidents.

The support targets SMEs with business sites located in Ulsan City, with up to 500 million KRW per company. The repayment period is 2 to 4 years for management stabilization funds and 5 years for facility funds, and part of the financial institution loan interest (interest rate subsidy of 1.2 to 3.0%) will be supported.

The contracted financial institutions (12 places) include Gyeongnam Bank, Kookmin Bank, Industrial Bank of Korea, NongHyup Bank, Daegu Bank, Busan Bank, Korea Development Bank, Shinhan Bank, Woori Bank, Hana Bank, Export-Import Bank of Korea, and Saemaeul Geumgo.

The first application for the 2025 SME Development Fund support will be accepted from January 13 to January 17 by visiting the Ulsan Economic and Job Promotion Agency in person.

Detailed explanations and application documents for the development fund support can be found in the ‘2025 Ulsan Metropolitan City 1st SME Development Fund Support Plan’ announcement on the Ulsan City website.

An official from Ulsan City said, “We designed the fund operation plan by actively reflecting the voices from the SME field, and we hope that this development fund supply will provide practical help to local SMEs struggling to secure liquidity. We will do our best to provide policy support to revive the livelihood economy.”

Ulsan City plans to increase the scale of the SME Development Fund, which was established to secure funds for the growth and development of SMEs, to 100 billion KRW by 2026 and use it as a resource for various SME support policies.

2025 1st Small and Medium Business Development Fund Support Plan Schedule. Provided by Ulsan City

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