Chungnam Province Launches Bay Valley SME Funding Program

Establishment of the "Chungnam Bay Valley SME Fund"
Interest Support and Expanded Funding to Ease Financial Burden on Local Companies

Chungnam Economic Promotion Agency Building View

The Chungnam Economic Promotion Agency (hereinafter referred to as the Agency) announced on the 25th that it has revised its 2025 SME Development Fund plan and established a new funding program to alleviate financial difficulties and reduce the financial burden for small and medium-sized enterprises (SMEs) in the province.

The core of this revision is the creation of the "Chungnam Bay Valley SME Fund." This fund, totaling 10 billion KRW, will be operated through an agreement between NH Nonghyup Bank and the Korea Credit Guarantee Fund. It is available to SMEs located in Cheonan, Asan, Dangjin, Seosan, and Yesan-gun.

Eligible companies can receive interest support of 2% for two years, up to a maximum of 500 million KRW, when using NH Nonghyup Bank's exclusive loan program.

Existing funds have also been further strengthened. The "Innovation Fund" has been expanded by 20 billion KRW to a total of 130 billion KRW, and the maximum support limit has been raised to 2.5 billion KRW.

This is expected to enable a more flexible response to the funding needs of companies at different stages of growth.

An official from the Agency stated, "We aim to foster the growth of companies in the Bay Valley, which is Chungnam's industrial belt, and enhance the competitiveness of SMEs through practical financial support."

Companies wishing to apply for funding should consult with the partner financial institutions and then submit the required documents through the Chungnam Fund Management System.

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