Goseong County to Launch Special Guarantee Support Program for Small Business Owners Starting on the 22nd

Goseong County, Gangwon Province, which is positioning itself as a hub city for the peace economy (Governor Ham Myungjun), will sign a business agreement with the Gangwon Credit Guarantee Foundation on September 9 and launch a "special guarantee" support program for local small business owners facing financial difficulties starting from September 22.

Aerial view of Goseong County Office. Provided by Goseong County, Gangwon Province

For this initiative, Goseong County will contribute 400 million won, with the total operating scale of the special guarantee set at 5 billion won. This system provides a "special guarantee" through a special contribution to small business owners with low credit ratings or insufficient collateral, enabling them to obtain loans.

The support is available to individual proprietors who, as of the application date, have both their business location and resident registration in Goseong County and have operated their business for at least three months. The maximum support per business is up to 50 million won, with a guarantee period of two years and a fixed guarantee fee rate of 0.8%.

Additionally, Goseong County will simultaneously implement a "special guarantee fee support program," which covers one year of the two-year guarantee fee, and allow overlapping support with the SME development fund interest subsidy program, further reducing the financial burden on small business owners.

Ham Myungjun, Governor of Goseong County, stated, "Through this special guarantee, we will provide practical financial support to small business owners, helping them stabilize their operations and seize new opportunities despite financial difficulties. We will continue to pursue various policies to invigorate the local economy of Goseong County."

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