Chungnam Economic Promotion Agency Provides 5 Billion Won in Special Management Stabilization Funds to SMEs

Easing Financial Strain for Manufacturers
Up to 100 Million Won per Company, 2% Interest Subsidy

The Chungnam Economic Promotion Agency will provide an emergency "Chuseok Special Management Stabilization Fund" totaling 5 billion won to support local companies facing liquidity crises ahead of the Chuseok holiday.

Applications will be accepted from September 22 to October 2, and the eligible recipients are companies within the province that are currently using management stabilization funds for manufacturers and are only repaying interest at this time.

However, companies that have applied for technology innovation-type management stabilization funds and those currently repaying the principal of management stabilization funds are excluded from eligibility.

The maximum support per company is 100 million won, with a repayment condition of a lump-sum payment after a two-year grace period.

Additionally, the interest burden for companies will be reduced by an annual 2.0% interest subsidy. For example, if a company borrows 100 million won at an annual interest rate of 5.0%, the actual interest rate borne by the company will be reduced to around 3.0% per year.

An official from the agency stated, "We hope that this special fund will provide relief for small and medium-sized enterprises facing liquidity crises ahead of the holiday," adding, "We will continue to expand customized financial support tailored to on-site demand in the future."

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