Gyeongbuk Province's Card Processing Fee Support Draws Strong Response from Small Business Owners ... "Expansion Planned"

54,000 Applications Submitted in Four Weeks
Reaching 80% of Target Before End-of-July Deadline

Governor Lee Cheolwoo of Gyeongbuk Province encouraging merchants while visiting a traditional market.

[Asia Economy Yeongnam Bureau, reporter Park Donguk] Gyeongsangbuk-do, which is providing support for card processing fees to small business owners struggling due to COVID-19, announced on May 31 that it had received approximately 54,000 applications-representing 79% of its target-within just four weeks of launching the program.

Through this initiative, Gyeongsangbuk-do is offering reimbursement of 0.8% of last year's card processing fees (up to a maximum of 500,000 won) to small business owners whose annual sales in the previous year were 150 million won or less. Here, "small business owners" refers to those with fewer than 10 employees in mining, manufacturing, construction, or transportation industries, and fewer than 5 employees in all other sectors.

Those interested can apply online via the designated website (행복카드.kr) until the end of July, or in person at their nearest eup, myeon, or dong community service center, or at the Gyeongsangbuk-do Economic Promotion Agency (Gumi headquarters, Pohang and Andong branches).

Lee Cheolwoo, Governor of Gyeongbuk Province, stated, "In order to plant the seeds of hope for small business owners facing a crisis due to COVID-19, we will actively consider expanding the card processing fee support program in the future." He added, "We will continue to develop various initiatives such as expanding the issuance of local gift certificates and revitalizing neighborhood commercial districts to promote the growth of the local economy."

Meanwhile, to ensure efficient and prompt implementation of the card processing fee support program, Gyeongsangbuk-do has entrusted the Gyeongsangbuk-do Economic Promotion Agency with the project and has established a dedicated card processing fee management website.