Ministry of SMEs and Startups, Fostering a Win-Win Cooperation Atmosphere through the Power of Connection
Agreement Ceremony with Small Business Association, Korea Foodservice Industry Association, and Woowa Brothers
Choi Seung-jae, President of the Korea Federation of Small and Medium Business, Jae Kang Chang-gyun, President of the Korea Foodservice Industry Association, Park Young-sun, Minister of SMEs and Startups, and Kim Bong-jin, CEO of Woowa Brothers (from left), are posing for a commemorative photo on the 16th at the Nine Tree Premier Hotel in Insadong, Jongno-gu, Seoul, during the win-win agreement ceremony supporting small foodservice business owners related to COVID-19.
[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 16th that Woowa Brothers, the operator of Baedal Minjok, the Korea Federation of Micro Enterprise, and the Korea Foodservice Industry Association have signed a win-win cooperation agreement to support small foodservice business owners struggling due to the novel coronavirus infection (COVID-19).
The agreement ceremony was held at the Nine Tree Premier Hotel in Insadong, Jongno-gu, Seoul. Woowa Brothers will establish a fund of 5 billion KRW. For policy funds borrowed after the 13th of this month, half of the interest will be supported for small foodservice business owners until the fund is exhausted.
In addition, small business owners who have to close their stores due to visits from confirmed or suspected COVID-19 patients will be refunded for their Baedal Minjok advertising fees for the corresponding month. Applications will be available from the 19th on the 'Baemin Sajangnim Square'. Woowa Brothers will also deliver 75,000 hand sanitizers to small foodservice business owners through the Ministry of SMEs and Startups.
Park Young-sun, Minister of SMEs and Startups, stated, "This is a meaningful occasion where the private sector voluntarily creates an atmosphere of coexistence and cooperation during difficult times." She added, "The best strength to overcome the COVID-19 crisis is the power of coexistence, helping each other in hard times," emphasizing, "The Ministry of SMEs and Startups will make greater efforts to turn the power of connection as a connector into the energy of coexistence."
Kim Bong-jin, CEO of Woowa Brothers, said, "Baedal Minjok will do its best together with the Korea Federation of Micro Enterprise and the Korea Foodservice Industry Association to overcome the COVID-19 crisis."
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