Jongno-gu (Mayor Jeong Moon-heon) is promoting various customized projects to support small business owners who are suffering from the decline in consumer sentiment and the domestic economic recession. It is working to revitalize the local economy and overcome the crisis through practical support measures such as low-interest loan support, expert consulting, and improvement of environmental facilities.
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[Korean Today] Jongno-gu, all-out effort to support small business owners in crisis © Reporter Seung-ju Ji |
Jongno-gu will first expand the support for the ‘Small Business Small and Medium Business Promotion Fund Loan’ to restore the people’s economy. The loan size for 2025 will be 4 billion won, which is 1 billion won more than this year, and the loan limit per company has been raised from 60 million won to 100 million won. The loan interest rate is 1.5% per year, and the repayment condition is a 1-year grace period and 4-year equal installment repayment method. 2 billion won will be invested in the first half and the second half of the year, respectively.
In addition, the ‘Loan Interest Support Project’ will continue to be promoted to ease the financial burden of small business owners. Jongno-gu plans to provide loan interest support worth about 20 billion won in cooperation with the Seoul Credit Guarantee Foundation and commercial banks. This is to ease the burden of loan interest rates and resolve the financial difficulties of small business owners.
From 2025, a new ‘SME Promotion Fund Loan Repayment Deferral’ system will be implemented. This is a system that defers the repayment of the principal of a loan that is due for repayment for up to one year, and the beneficiaries will be selected through screening.
In addition, on the first day of every month, gift certificates for the public delivery application (app) ‘Ddaenggyeoyo’ will be sold at a 15% discount. This is a measure to reduce the burden on self-employed business owners and consumers due to the increase in delivery app brokerage fees.
In addition, Jongno-gu provides professional management consulting and supports environmental facility improvement costs for small business owners facing management crises. In the run-up to the Lunar New Year and Chuseok holidays, it plans to contribute to the revitalization of traditional markets by conducting traditional market events and safety inspections.
Jongno-gu District Mayor Jeong Moon-heon said, “In order to overcome the people’s economic crisis, we will expand existing support measures and continue to seek additional support measures,” adding, “We will do our best to promote customized projects that can provide practical help to small business owners and inject vitality into the local economy.”
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