A Comprehensive Overview of 'COVID-19' Support Programs for Mid-sized Companies

Junggyeonryeon Publishes '2020 Junggyeon Company Support Project Guidebook'

[Asia Economy Reporter Kim Cheol-hyun] The Korea Federation of Medium-sized Enterprises announced on the 1st that it has released the '2020 Medium-sized Enterprise Support Project Guidebook.' Co-published with the Ministry of Trade, Industry and Energy, this guidebook contains 140 support projects for medium-sized enterprises in five areas: finance, employment·export·technology, and more.

In particular, the guidebook focuses on the 'COVID-19 Special Support Projects' to assist many medium-sized enterprises facing severe management difficulties due to the novel coronavirus infection (COVID-19). This includes financial support projects to resolve liquidity crises for medium-sized enterprises such as 'Cheer Up Korea, Special Operating Funds' and 'Emergency Financial Support for Affected Companies,' as well as 28 employment and export support projects aimed at overcoming COVID-19.

There are a total of 112 general support projects provided by government ministries and related organizations such as the Ministry of Trade, Industry and Energy and the Ministry of Employment and Labor in areas including finance, employment, export, and technology. Various support projects carried out by the Federation of Medium-sized Enterprises, such as the 'Core Talent Development Academy for Medium-sized Enterprises' and the 'Online Technology Problem-Solving Platform,' can also be found.

Park Jong-won, head of the Federation's Business Division, said, "We hope that government support projects will be widely utilized as a meaningful means to effectively back up companies' self-help efforts to overcome the COVID-19 crisis," adding, "We will do our best to strengthen the substance of support projects by actively collecting opinions from the medium-sized enterprise sector and focusing on field suitability and promptness."