Daejeon City to Provide 310 Billion Won in SME Development Funds This Year

KRW 160 Billion Support in First Half... Applications Open from the 9th

Daejeon City will provide 310 billion won in funding this year to support the growth of small and medium-sized enterprises.

Daejeon City announced that it will begin accepting applications from the 9th to provide 310 billion KRW in support for small and medium-sized enterprises (SMEs) this year.

The funds are allocated as follows: 100 billion KRW for management stabilization funds, 100 billion KRW for regional specialization agreement guarantees, 50 billion KRW for start-up and competitiveness enhancement business funds, and 60 billion KRW for production support under purchase conditions.

The city will provide 160 billion KRW out of the total 310 billion KRW in the first half of the year. Specifically, 60 billion KRW each for management stabilization funds and regional specialization agreement guarantees, 25 billion KRW for start-up and competitiveness enhancement business funds, and 15 billion KRW for production support under purchase conditions. The city will support interest rate subsidies and low-interest loans for these funds.

This year, the support limit for management stabilization funds has been adjusted from 500 million KRW to 300 million KRW to allow more companies to benefit.

Additionally, the loan interest rate for start-up and competitiveness enhancement funds has been reduced from 6% to 5%, and the interest burden on companies has been lowered from 3% to 2-3%.

Furthermore, companies participating in Daejeon City's demonstration projects and local companies that have been in business for over 20 years will now be eligible for preferential interest rates. With the introduction of the regional specialization agreement guarantee, SMEs with weak collateral can more easily secure funding through guarantees from the Korea Credit Guarantee Fund and partner banks.

Choi Wonhyuk, Director of Daejeon City's Corporate Support Bureau, said, "We hope this support will be of great help to local SMEs during the Lunar New Year holiday," and added, "Daejeon City will continue to promote various support measures for mutual growth with SMEs."

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