Expansion of Store Demolition Support to Ease Business Closure Burden for Small Business Owners

Store Demolition Support Increased
Up to 6 Million KRW Available

The Ministry of SMEs and Startups announced on July 30 that it will implement a revised notice for the "2025 Hope Return Package (One-Stop Business Closure Support)" reflecting an additional supplementary budget of 17.1 billion KRW for the second round this year.

The Hope Return Package is a program that supports small business owners who have closed or are planning to close their businesses by easing the burden of closure and providing a package of support from closure to reemployment or commercialization for a swift recovery. The One-Stop Business Closure Support within this program provides assistance for demolition and restoration costs to alleviate the burden on small business owners. In the first revised notice on May 29, the number of supported businesses was increased by 10,000, from 30,000 to a total of 40,000.

In this second revised notice, the scope of support has been expanded to provide up to 6 million KRW (previously 4 million KRW) in store demolition costs for small business owners who closed their businesses after July 11, when the supplementary budget was implemented.

Hwang Youngho, head of the Small Business Management Stability Support Division at the Ministry of SMEs and Startups, stated, "With this expansion of support, we hope that the financial burden of business closure for small business owners will be further reduced, providing an opportunity for a swift recovery."

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