Gangwon Province to Provide 10 Billion Won in Emergency SME Support Funds in Response to Drought

Gangwon Province Special Self-Governing Province (Governor Kim Jin-tae) has launched emergency financial support to assist small and medium-sized enterprises (SMEs) in Gangneung City that are struggling due to the drought.

A panoramic view of Gangwon Province. Provided by Gangwon Province Special Self-Governing Province

Gangneung City has been experiencing the worst drought on record, with the water storage rate at Obong Reservoir dropping below 15%. On August 30, 2025, the country’s first disaster situation was declared in response to the drought, and a pan-government response system is now in operation.

In line with this, Gangwon Province Special Self-Governing Province has decided to promptly provide up to 10 billion won in support to SMEs in Gangneung City affected by the drought, utilizing disaster and emergency business support funds as well as emergency management reserve funds.

The support is available to SMEs that have been verified by Gangneung City as having suffered damages, with a maximum of 800 million won available per company. The loan conditions have been set at a fixed interest rate of 1.5% to help ease the financial burden.

Kim Man-ho, Director of Economic Affairs for Gangwon Province Special Self-Governing Province, stated, "We hope that this disaster and emergency business support fund will serve as much-needed relief for the affected companies," adding, "The province will focus all its efforts to help Gangneung City businesses facing management difficulties due to the drought return to normal operations as quickly as possible."

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