Ulsan City to Provide 30 Billion KRW in Fourth Round of SME Development Funds This Year

Online Applications Accepted from September 15 to 19

Ulsan City will provide a total of 30 billion KRW in the fourth round of SME development funds to support small and medium-sized enterprises (SMEs) facing challenging business conditions.

The support will be provided through loans from 12 partner financial institutions, with Ulsan City subsidizing a portion of the interest (up to 1.2-3%).

The eligible recipients are general SMEs and automotive (parts) SMEs in the Ulsan region experiencing temporary cash flow difficulties. Of the total funds, 20 billion KRW will be allocated to general SMEs and 10 billion KRW to automotive (parts) SMEs.

Applications can be submitted online from September 15 to 19 by accessing the Ulsan Economic and Job Promotion Agency’s fund loan management system website.

For more details, please refer to the announcements on the Ulsan City website or the Ulsan Economic and Job Promotion Agency website.

An official from the city stated, “We are making every effort to respond to the difficulties faced by automotive (parts) SMEs directly affected by U.S. tariff negotiations, including holding a 'Strategy Meeting to Strengthen Export Competitiveness.' We hope that expanding the available funds and ensuring a stable supply will help alleviate the temporary cash flow challenges faced by local automotive (parts) SMEs.”

With this fourth round, the total SME development fund support provided by Ulsan City this year amounts to 150 billion KRW for general businesses, 20 billion KRW for the shipbuilding sector, 30 billion KRW for the automotive sector, and 30 billion KRW for technology and innovation, totaling 230 billion KRW.

Ulsan City Hall.

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