Kang Ki-yoon, People Power Party Candidate, to Significantly Expand Small Business Credit Guarantees to 300 Billion Won

Kang Ki-yoon, candidate for Changwon Mayor from the People Power Party, announced on April 21 a pledge to "significantly expand credit guarantees and financial support for small business owners" to alleviate funding concerns among small business owners who often struggle to secure loans from banks due to insufficient collateral.

Kang Gi-yoon, People Power Party candidate for mayor of Changwon. [Photo by Kang Gi-yoon]

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This pledge aims to strengthen the roots of the local economy by ensuring that small business owners facing difficulties from high interest rates and an economic downturn can borrow the necessary funds more easily and in a timely manner, even if they lack collateral.

According to Kang's plan, the current small business support system, which consists of 8 billion won in contributions and 120 billion won in loans, will be completely revamped to 20 billion won in contributions and 300 billion won in loans.

Kang also promised not to limit support to simply providing loans, but to establish an "integrated support system" that would enable small businesses to grow stably.

The package will include tax and business consulting, digital transformation training, and sales channel support. In addition, by utilizing the Gyeongnam Credit Guarantee Foundation to expand "on-site consultation services," small business owners who are busy with their day-to-day operations will be able to access financial services more conveniently.

Regarding funding sources, Kang stated, "We will secure a stable budget by actively matching Changwon City's own contributions with policy funds from the central government," presenting a concrete implementation plan.

Kang emphasized, "I understand better than anyone the difficulties faced by small business owners who have been turned away from loans due to a lack of collateral. By dramatically increasing the credit guarantee amount to 300 billion won, we will ease the flow of funds and create a 'hopeful economic city of Changwon' where small business owners can do business with peace of mind."

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