88 Exhibition Events Canceled or Postponed Due to COVID-19... "Emergency Fund Support"

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[Asia Economy Reporter Moon Chaeseok] On the 8th, the government announced that it will provide emergency management stabilization funds to exhibition companies as domestic exhibitions have been consecutively canceled due to the novel coronavirus infection (COVID-19) situation.

The Ministry of Trade, Industry and Energy stated that considering the difficult situation of the exhibition industry, design installation businesses and service providers will also be included as recipients of the emergency management stabilization funds.

The exhibition industry has been facing management difficulties due to cancellations and postponements of large and small exhibitions such as Semicon Korea. Until now, there have been restrictions on policy fund support for businesses.

Additionally, the Korea Exhibition Industry Promotion Association will establish a 'COVID-19 Response Center' as a damage reception window to set up a support system to resolve difficulties in the exhibition industry.

When a business applies, the Exhibition Industry Promotion Association verifies the damage, and then the Small and Medium Business Corporation conducts on-site inspections and executes fund support.

As of the 6th, the Exhibition Industry Promotion Association has received a total of 89 damage reports and issued damage verification certificates for 88 of them.

Furthermore, to facilitate easy access to and effective support from government support policies for COVID-19 response, a 'comprehensive guidebook' will be distributed within the exhibition industry.

The Ministry of Trade, Industry and Energy plans to adjust the timing of exhibitions postponed due to the COVID-19 situation or encourage integration with similar exhibitions. In the mid to long term, it plans to explore ways to activate 'cyber exhibitions.'

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